BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Amaya, Inc. ("Amaya" or the "Company") (NASDAQ: AYA) concerning the Company and its officers’ possible violations of federal securities laws. Law Offices of Howard G. Smith is preparing a lawsuit on behalf of injured investors.
On March 23, 2016, news outlets reported that Amaya’s Chief Executive Officer (“CEO”), David Baazov, was charged with insider trading by Quebec securities regulators. Bloomberg Business 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 more than 21%, to close at $11.18 per share on March 23, 2016, on unusually heavy trading volume, thereby injuring investors.
On March 31, 2016, the Company announced that CEO David Baazov had taken an indefinite leave of absence, “On March 29, 2016, Amaya announced that Chairman and Chief Executive Officer, David Baazov, is taking an indefinite paid leave of absence from the Company, effective March 28, 2016. Mr. Baazov is taking this leave voluntarily to focus on preparing an offer to acquire Amaya and to avoid a distraction for the Company while he responds to certain allegations made against him by the Autorité des marchés financiers, the securities regulatory authority in Quebec.”
If you purchased Amaya securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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