WASHINGTON, May 06, 2016 (GLOBE NEWSWIRE) -- Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Amaya Inc. (“Amaya” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.  

Class action lawsuits were filed in the U.S. District Court for the Southern District of New York and in the District of New Jersey by other law firms on behalf of purchasers of the common stock of Amaya Inc. (NASDAQ:AYA) between June 8, 2015 and March 23, 2016, inclusive (the “Class Period”).

The complaints allege that Amaya and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) Amaya’s CEO engaged in an insider trading scheme to influence the price of Amaya’s securities, (2) the Company lacked adequate internal controls, and (3) statements about Amaya’s business, operations, and prospects lacked a reasonable basis during the Class Period.

On June 1, 2015, Amaya filed a Form 6-K disclosing that an investigation by the Quebec Securities Regulatory Authority (the “Autorite des marches financiers” or “AMF”) into the trading of Amaya securities involved CEO David Baazov and CFO Daniel Sebag. Amaya further stated that the AMF had not filed any charges, the investigation was sealed by court order, and the Company was not permitted by law to disclose any further details of the investigation.

On March 23, 2016, Amaya filed a Form 6-K and press release disclosing that the AMF charged Baazov with “aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of Amaya securities, and communicating privileged information.” The price of Amaya’s stock fell from $14.25 on March 22 to $11.18 on March 23.

Cohen Milstein encourages all investors who purchased Amaya Inc. common stock between June 8, 2015 and March 23, 2016, or former employees with information concerning this matter to contact the firm.

If you are an Amaya shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com.  If you wish to serve as lead plaintiff, you must move the Court no later than May 24, 2016 to request appointment.  Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation.  Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over two billion dollars.  Prior results do not guarantee a similar outcome.  For more information visit www.cohenmilstein.com.

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If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Robin Bleiweis
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Suite 500 East
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; rbleiweis@cohenmilstein.com