MONTREAL--(BUSINESS WIRE)--The law firms of Faguy & Co. and Morganti & Co., P.C. announce that on January 21, 2020 the Honourable Justice Suzanne Courchesne of the Superior Court of the Province of Québec authorized the bringing of a civil liability and securities class action against The Stars Group Inc. (“TSGI”) in Court File No. 500-06-000785-168, for settlement purposes.
On April 7, 2020, the Superior Court will be asked to approve the proposed settlement in the amount of CDN $30 million, at the Montreal courthouse. Further details are available by consulting the link below.
The class action is brought on behalf of all persons and entities, excluding certain persons associated with the Defendants, who acquired securities of THE STARS GROUP INC. between March 31, 2014 to March 22, 2016 (the “Class Period”) and held all or some of those acquired TSGI securities until after March 22, 2016. You are a member of the class action if you meet this description.
The class action asserts that TSGI made misrepresentations and omissions of material fact in TSGI’s public filings and statements regarding its business practices. It is alleged that when the misrepresentations and omissions of fact were publicly corrected, TSGI’s securities dropped significantly in value causing the class members damages. The parties have reached the proposed settlement without admission of liability on the part of the Defendants. In fact, the Defendants have denied and continue to deny each and all of the claims and allegations of wrongdoing made by the Plaintiff in the class action.
Details of the authorization of the class action, including the process for Class Members to opt-out of the class action and the proposed settlement prior to March 25, 2020 are available by consulting the link below.
The judgments of the Superior Court ofQuébec and other information in both English and French are available on class counsel’s website at http://faguyco.com/portfolio/amaya-class-action/ as well as on the Registre des actions collectives.