The Stars Group, Inc.’s $30 million settlement with shareholders receives conditional approval

(January 27, 2020) The law firms of Faguy & Co. Inc. (Montreal), and Morganti & Co., P.C. (Toronto), on behalf of investors that purchased The Stars Group Inc. (TSX: “TSGI”) (formerly known as Amaya Gaming) securities are pleased to announce that the previously announced settlement between TSGI and shareholders has received conditional approval from the Quebec Superior Court (Justice Suzanne Courchesne, J.S.C.), which the Order and Short Form Notice can be downloaded here:

Investors who purchased TSG securities between March 31, 2014 and March 22, 2016 and still held some of those securities until March 23, 2016, will be able to submit a claim to be compensated.

Pursuant to Quebec statutory laws, the liability limits are thought to be approximately CDN $38.4 million. Class counsel have indicated “To our knowledge, this is the largest settlement for a case involving alleged insider trading and it is also the highest percentage recovery based on secondary market liability limits under applicable securities legislation in Canadian history, e.g., CDN $30 million out of CDN $38.4 million”.