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New Class Action Lawsuit vs Amaya
Thursday April 7,2016 : NEW INVESTOR CLASS ACTION FILED AGAINST AMAYA
Lawsuit filed this week in Manhattan Federal Court by lead plaintiff Michael Neuberger.
Online gambling group Amaya's troubles mounted on April 4, when one Michael Neuberger filed a new class action in the Manhattan Federal Court - the second such litigation this year - claiming that the value of investors' shares in the company has been adversely impacted by insider trading investigations involving company executive David Baazov
The publication Courthouse News reports that Baazov has denied any wrongdoing, but the issue remains active with Quebec securities regulator Autorité des marchés financiers, and continues to affect Amaya and principal operational subsidiaries like Pokerstars and Full Tilt.
The Neuberger filing asserts that the mere accusations of wrong-doing have caused the value of Amaya shares to plummet 20 percent, and that Baazov and co-defendant Amaya CFO Daniel Sebag misled investors by failing to disclose that the 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."
When the news of the charges broke, and Amaya's chief executive temporarily suspended himself, the share price fell $3.07 per share, more than 21 percent, on heavy trading volume.
Courthouse News links the new filing to the recent leak of the so-called Panama Papers, which detail the use of shell companies worldwide, and reveals a possible link between Amaya and a British Virgin Islands company called Zhapa Holdings.
Gambling News :
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
$75K Win on Mobile Slot @ CafeCasino -
Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.
2017 Punta Cana Poker Classic Results -
The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.
NHL Odds: Winnipeg Jets vs. Minnesota Wild -
Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.
Historic weekend at Americas CardRoom -
ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.
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