Quebec courts recognize investors’ allegations of insiders manipulating stock prices

The law firms of Faguy & Co. (Montreal) and Morganti & Co. (Toronto) announce that on August 7, 2020, the Honorable Mr. Justice Duprat, the Superior Court of Québec authorized the bringing of a class action against Mr. David Baazov in Court File No. 500-06-000859-179. The allegations made in the class action have not been proven and are contested by Mr. Baazov.

This class action is brought on behalf of investors in securities of Amaya Inc., now known as The Stars Group Inc. (“Amaya” or “TSGI”), who acquired securities of Amaya between February, 2016 and November 21, 2016 (“Class Period”).

The class action alleges that the Defendant would have made statements in public documents containing misrepresentations in relation to a potential going-private transaction involving Amaya and that he should be held liable for the damages allegedly suffered by Class Members who acquired Amaya securities during the Class Period.

Details of the authorization of the class action, including the process for Class Members to opt-out of the class action prior to January 16, 2021, are available by consulting the link below.