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Class Action Lawsuit vs AMAYA

Friday April 1,2016 : CLASS ACTION FILED AGAINST AMAYA INC. EXECUTIVES
 
Case filed in the Southern District of New York names CEO and chairman David Baazov and CFO Daniel Sebag.
 
The already troublesome legal hassles facing Amaya as a result of insider trading charges against its CEO and chairman David Baazov and alleged associates increased late Thursday as news broke that a class action against Baazov and chief financial officer Daniel Sebag had been filed in the Southern District of New York.
 
The file Mattie v. Amaya Inc., et al alleges contraventions of US federal securities laws and was originated by one Jason Mattie, an individual who bought 471 Amaya shares in four separate transactions between June 8 2015 and March 22 2016, when the Autorité des marchés financiers (AMF) financial regulator in Quebec announced insider trading charges against Baazov and 16 others.
 
Baazov has denied any wrongdoing in a response to the AMF charges, but has temporarily stepped away from Amaya to fight the case. The inclusion in the Mattie class action of Amaya's CFO relates to his position of authority in Amaya, the attendant responsibilities, and his statements on the company business.
 
Sebag was not named in the AMF charges.
 
Mattie claims that Baazov and Sebag contravened US federal securities laws by making false and/or misleading statements, and failing to disclose material negative facts regarding Amaya's business, operations and prospects.
 
The filing claims that defendants did not disclose that Baazov was involved in insider trading activity; that internal controls within Amaya were inadequate; and that as a consequence false and misleading statements regarding the company were made, and these wrongful acts and omissions resulted in a severe decline in the market value of Amaya securities to the prejudice of Mattie and other class action members.
 
The Mattie filing was carried out by a New York legal company at the behest of Glancy Prongay & Murray LLP, a California-based law firm which has invited other Amaya investors to join the action. Amaya stock is traded on the US Nasdaq exchange, giving the New York court jurisdiction.
 
The filings include comprehensive details of both the allegations and historical statements and financial disclosures made by Amaya in an attempt to illustrate that allegedly misleading and fraudulent statements by Baazov and Sebag were knowingly made in efforts to boost the Amaya share price and conceal adverse information.
 
Trading records are sought in the filing in order to establish the identity of other negatively-impacted Amaya investors.

The class action filing has triggered speculation that the Pokerstars position in California will be weakened as the cardroom and tribal alliance to which it belongs continues to lobby for legalised online poker in the state.
 
There are also concerns that the recent debut of Pokerstars in the New Jersey legalised online gambling market could be impacted, although the Garden State regulator has thus far intimated only that it is monitoring developments, and has advised that the full Pokerstars licence is still pending (the company is operating on a transactional waiver, but this expires this week and will presumably require renewal).

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Gambling News :

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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