Amaya Inc. provides technology-based products and services to the global gaming and interactive entertainment industries

According to the law firm press release, the Complaint charges Amaya and certain of its officers with violations of the federal securities laws. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s CEO 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 April 26, 2016, the first identified case was voluntarily dismissed by Plaintiff. A related action continues in the District of New Jersey under 16-CV-01884.

On June 27, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. On August 31, Lead Plaintiff filed an amended Complaint. On November 14, Defendants filed a Motion to Dismiss the amended Complaint. On June 15, 2017, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On August 3, the parties entered into a Stipulation of Settlement. The Court issued an Order granting preliminary approval of the Settlement on September 13. On December 21, the Court entered Final Judgment. The Court issued an Order authorizing distribution of the Settlement funds on December 18, 2019. On September 22, 2021, the Court issued an Order authorizing distribution of the remaining Settlement funds.