According to a press release, the law firm of Lieff Cabraser Heimann & Bernstein, LLP has filed class action litigation in federal court in Ny against the corporate on behalf of investors who bought stock between June 8, 2015 and Mar. 22, 2016.
The charges against Amaya’s now-former CEO, president and board chairman came just two days after PokerStars, a subsidiary of Amaya, launched within the U.S. state of recent Jersey.
The law firm added that you simply don’t need to undergo them if you wish to seek possible recovery: "IF YOU HAPPEN TO purchased Amaya securities in the course of the Class Period, you can also 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 different class members in directing the litigation. Your share of any recovery within the action is probably not suffering from your decision of whether to hunt appointment as lead plaintiff. You can also retain Lieff Cabraser, or other attorneys, as your counsel within the action.
On Tuesday, Amaya announced that Baazov took a voluntary leave of absence but will remain at the board of directors. Amaya said that the move was in order that he could “focus on preparing a suggestion to obtain Amaya and to bypass a distraction for the corporate while he responds to certain allegations made against him by the Autorité des marchés financiers (AMF), the securities regulatory authority in Quebec.” It was known before the fees that Baazov, already a vital shareholder, had an interest in taking the corporate private.
The investigation, which began in 2014, was into Amaya’s $4.9 billion takeover of PokerStars and entire Tilt, a deal that made it one of the crucial largest online gaming companies within the world.
Baazov denies the entire allegations, and Amaya said the case may have no impact on its offerings on PokerStars, a poker room with roughly 70 percent of the global market.
Read More... [Source: CardPlayer Poker News]
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