SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in securities class litigation brought on behalf of investors who purchased the securities of Amaya, Inc. (“Amaya” or the “Company”) (Nasdaq: AYA) between June 8, 2015 and March 23, 2016, inclusive (the “Class Period”).
If you purchased Amaya securities during the Class Period, you may move the court for appointment as lead plaintiff by no later than May 24, 2016. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
The action alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s Chief Executive Officer (“CEO”) during the Class Period, 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) that, 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.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP is a nationally recognized law firm committed to advancing investor rights and promoting corporate responsibility.
For thirteen years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.
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