NEW YORK, April 06, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a shareholder class action lawsuit has been filed in the United States District Court for the Southern District of New York against Amaya Inc. ("Amaya" or the "Company") (NASDAQ:AYA) on behalf of all investors in Amaya securities purchased between June 8, 2015 and March 23, 2016, inclusive (“Class Period”).
Shareholders who have incurred losses in securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. In addition, investors who purchased shares of Amaya Inc. (TSX:AYA) shares on the Toronto Stock Exchange (“TSX”) are encouraged to contact the firm to obtain additional information.
If you purchased shares of Amaya Inc., you may, no later than May 24, 2016, request that the Court appoint you lead plaintiff of the proposed class.
On March 23, 2016, the Quebec securities regulator, Autorite des March Financiers (the "AMF"), announced that it had charged Amaya's CEO and founder, David Baazov, and other key insiders with insider trading. The AMF has been working in conjunction with the Royal Canadian Mounted Police, Quebec Police and U.S. regulators to determine why a large number of investors bought shares of Amaya's stock prior to its $3.8 billion merger with industry stalwart PokerStars, and if these share purchases were based upon insider information.
The AMF has stated that its investigation is ongoing and it may file additional charges. On news of the charges against Baazov, Amaya stock declined approximately 20%, resulting in a loss of market capitalization to shareholders of approximately $275 million. Baazov has since taken indefinite leave from Amaya to address the charges.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Amaya class action.”