NEW YORK, April 7, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Amaya Inc. ("Amaya" or the "Company") (NASDAQ: AYA) of the May 24, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Amaya securities between June 8, 2015 and March 22, 2016 (the "Class Period"). The case, Mattie v. Amaya Inc., et al., No. 1:16-cv-02237 was filed on March 25, 2016 and has been assigned to Judge P. Kevin Castel.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that its Chief Executive Officer ("CEO") was involved in an insider trading scheme. Specifically, on March 23, 2016, Bloomberg Business, among other news outlets, reported that the Company's CEO, David Baazov, was charged with insider trading by Quebec securities regulators.
After the announcement, Amaya's share price fell from $14.25 per share on March 22, 2016 to a closing price of $11.18 per share on March 23, 2016 —a $3.07 or a 21.5% drop.
Request more information now by clicking here: www.faruqilaw.com/AYA . There is no cost or obligation to you.
If you invested in Amaya stock or options between June 8, 2015 and March 22, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/AYA. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Amaya's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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