Faguy & Co. And Morganti & Co, P.C., Announces That Investors Reach a CDN $30 Million Settlement with The Stars Group, Inc. (Formerly Amaya Gaming)
MONTREAL--(BUSINESS WIRE)--Dec 20, 2019--
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: “TSG”), (formerly known as Amaya Gaming) securities are pleased to announce that they have reached a settlement for CDN $30 million to resolve the claims against TSG. The settlement is conditional upon the approval of the Quebec Superior Court.
If the settlement is approved by the court, 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. The settlement’s details, including the process for investors to file claims, will be published once approved by the courts.
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”.
All parties will be seeking to implement a formal notice program and the final approval of the proposed settlement in short order.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191220005078/en/
CONTACT: For any inquiries, please contact class counsel:
Faguy & Co.
329 de la Commune West, Suite 200
Montreal, PQ H2Y 2E1
Tel: 514.285.8100 Ext. 224
Morganti & Co. Professional Corporation
21 St. Clair Avenue East, Suite 1102
Toronto, ON Canada M4T 1L9
Tel: 647.344.1900 Ext. 2
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Faguy & Co. and Morganti & Co. Professional Corporation
Copyright Business Wire 2019.
PUB: 12/20/2019 09:00 AM/DISC: 12/20/2019 09:00 AM