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Amaya Inc (NASDAQ: AYA) Investor Securities Class Action Lawsuit 03/25/2016

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of November 13, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Amaya Inc
Security
NASDAQ: AYA

Case Name
Amaya Shareholder Class Action Lawsuit 03/25/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
Amaya_Settlement_08_03_2017.pdf
Settlement Proof
Amaya_Proof_08_03_2017.pdf
Filed Complaint
amaya_inc_original_filing_edited_3_2016.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$5,750,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

September 13, 2017 - The court preliminarily approved the settlement.

August 3, 2017 - A stipulation of settlement was filed by the parties.

June 15, 2017 - The court granted in part and denied in part the defendants' motion to dismiss.

November 14, 2016 - A motion to dismiss the amended complaint was filed.

August 31, 2016 - An amended complaint was filed.

August 26, 2016 - The case was transferred to the U.S. District Court for the District of New Jersey.

March 25, 2016 - An investor in shares of Amaya Inc (NASDAQ: AYA) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Amaya Inc in connection with certain allegedly false and misleading statements made between June 8, 2015 and March 22, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Amaya Inc (NASDAQ: AYA) common shares between June 8, 2015 and March 22, 2016, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between June 8, 2015 and March 22, 2016 the defendants made false and/or misleading statements and/or failed to disclose that the Company’s CEO was engaged in an insider trading scheme that involved influencing the market price of the Company’s securities and communicating privileged information to third parties, that Amaya Inc lacked adequate internal controls, and that, as a result of the foregoing, defendants’ statements about Amaya Inc’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. Amaya Inc is a Canadian gaming and online gambling company headquartered in suburban Montreal, Quebec.

On March 23, 2016, it was reported that Amaya Inc's Chief Executive Officer, David Baazov, has been charged with insider trading by Quebec's securities regulator. The regulator said it had filed charges against Amaya Inc's Chief Executive Officer for aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya, and communicating privileged information.

Shares of Amaya Inc (NASDAQ: AYA) declined from $14.32 per share on March 22, 2016 to as low as $10.30 per share on March 23, 2016.

amaya_inc_original_filing_edited_3_2016.pdf
Date Settled