If you purchased shares of Amaya, Inc. between February 1 and November 22, 2016, please review the information on this webpage carefully, take note of the documents attached to the right, and register below to receive future updates.
MONTRÉAL – November 15, 2023 – Law firms Faguy & Co. and Berger Montague (Canada) announce that the Superior Court of Québec has approved the settlement of the class action styled as Denis Gauthier v. David Baazov, bearing Court File No. 500-06-000859-179.
The class action was brought on behalf of all persons and entities, excluding the Defendant or members of his immediate family, who acquired securities of Amaya Inc. (now known as The Stars Group Inc.) between February 1, 2016 and November 21, 2016 inclusively, and held some or all of those securities until after the Corrective Disclosure on November 22, 2016. You are a member of the class if you meet this description.
The Settlement provides, among other things, for payment by the Defendant of CDN $1.8 million (“Settlement Amount”), to fully, definitively, and permanently resolve, settle, release and discharge all claims asserted, or which could have been asserted against him in the Class Action.
The Plan of Allocation provides for an asymmetrical allocation of the settlement proceeds to Class members. The allocation is consistent with Class Counsel’s view regarding the relative legal merits of the two Impugned Documents, based on an assessment of the available evidence. The Class comprised of the securities purchased between February 1, 2016, until November 13, 2016 (“Class I”), is substantially weaker than the class comprised of the securities purchased on and after November 14, 2016 (“Class II”). As a result, the Net Settlement Amount will be allocated, subject to Court approval, 15% to Class I and 85% to Class II.
THE DEADLINE FOR CLASS MEMBERS TO SUBMIT CLAIMS IS JANUARY 23, 2024
Class Members may complete the claim form and upload the supporting documentation to the Website of the Administrator: https://velvetpayments.com/project/baazov/
If you do not submit a duly completed claim form by January 23, 2024, you may not receive any part of the Net Settlement Amount.
To view the Settlement Agreement and for more information about the settlement, please see the documents listed to the right which can be downloaded in English and French.