Lawyer urges AMF tribunal to soften views of Baazov in insider trading case
MONTREAL — The lawyer for the former CEO of online gambling giant Amaya urged a securities tribunal on Thursday to soften its characterization of David Baazov’s alleged leading role in the insider information case launched by Quebec’s securities regulator.
Sophie Melchers didn’t ask the independent body to make any specific changes to its March 2016 order against 12 associates, excluding Baazov, who have been accused of allegedly reaping nearly $1.5 million in profits from trading shares after receiving privileged information.
However, Melchers urged the panel to consider all the information that emerged during the four-day hearing that paint a more complete picture of the case than what she said was presented by L’Autorite des marches financiers.
“It is not necessary, it is not required and to me it is not desirable that the tribunal at this stage — with all that remains to be done — conclude based on incomplete evidence that my client contravened the law,” she said.