NEW YORK, May 18, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a global investor rights law firm, reminds investors that May 24, 2016 is the last day to file lead plaintiff papers in the securities lawsuit against Amaya, Inc. (“Amaya” or “Company”) (NASDAQ:AYA) and certain of its directors (collectively, “Defendants”). Amaya investors are encouraged to contact Scott+Scott at (800) 404-7770 or email scottcases@scott-scott.com to discuss their legal rights.
About the Lawsuit
The action alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s Chief Executive Officer during the Class Period (June 8, 2015 – March 22, 2016, inclusive), David Baazov, 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; (2) the Company lacked adequate internal controls; and (3) as a result of the foregoing, defendants’ statements about Amaya’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 23, 2016, news outlets reported that Baazov was charged with insider trading by Quebec securities regulators. Bloomberg reported that the charges included allegations of aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of securities of Amaya, and communicating privileged information. On this news, Amaya’s stock fell $3.07 per share, or 21.54% from a closing price of $14.25 on March 22, 2016, to close at $11.18 per share on March 23, 2016, on extraordinarily heavy trading volume.
What You Can Do
If you purchased shares of Amaya, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers or have questions about your legal rights, please contact by telephone at (800) 404-7770, or by email at scottcases@scott-scott.com or mburnett@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.