BOSTON, Nov. 22, 2016 /PRNewswire/ -- Block &
Leviton LLP (http://www.blockesq.com) announces that it is
investigating potential securities fraud or manipulation claims
involving David Baazov, the former
CEO of Amaya Inc. ("Amaya" or the "Company") (NASDAQ: AYA).
On November 14, 2016, Baazov—who
owns approximately 17% of the Company's outstanding shares and has
been accused of insider trading by Canadian securities regulators
in a separate matter—filed documents with the U.S. Securities and
Exchange Commission stating that he had made an offer to take the
Company private. In those documents, Baazov claimed that he had
secured equity commitment letters from, among others, KBC Aldini
Capital Limited, a Dubai-based
investment firm.
Earlier today (November 22, 2016),
Toronto's Globe and Mail reported
that KBC Aldini Capital "has 'no involvement' whatsoever in the
proposed multibillion dollar privatization deal … and has filed a
complaint with U.S. regulators, [according to] its top
executive."
Amaya shares plummeted on the news, dropping by over 7%.
Block & Leviton LLP is investigating to determine whether
investors may be able to bring claims to recover their losses under
the federal securities laws.
If you purchased Amaya stock between November 14, 2016 and November 22, 2016 and have questions about your
legal rights, or if you have information relevant to this
investigation, please contact attorney Joel
Fleming of Block & Leviton LLP at (617) 398-5600 or at
Joel@blockesq.com or visit
http://www.blockesq.com/Amaya. Confidentiality for any
whistleblowers or other persons with information relevant to the
investigation is assured.
Block & Leviton LLP is a Boston-based law firm representing investors
nationwide. The firm's lawyers have collectively been prosecuting
securities cases on behalf of individual and institutional
investors for over 50 years, and have recovered billions of dollars
on their behalf.
CONTACT:
BLOCK & LEVITON LLP
Joel Fleming
(617) 398-5600
joel@blockesq.com
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SOURCE Block & Leviton LLP