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This is a developing story and will be updated.
A Canadian court today tossed out a case against former Amaya CEO David Baazov. The cases against Baazov’s co-defendants, Benjamin Ahdoot and Yoel Altman, were also thrown out.
Corresponding documentation from the court system was not immediately available. But a press release from a company handling media for Baazov and his attorneys confirmed the case had been thrown out. From the release:
“We agree with the judge and are happy with the decision,” the three men said, adding they will have no further comment at this time.
The news comes days after Baazov’s lawyers argued for a stay following the inadvertent release of confidential documents by Quebec securities regulator the AMF.
The prosecution in the case “accidentally shared more than 300,000 documents that were supposed to remain confidential” with Baazov’s attorneys, according to reporting last week from The Canadian Press.
Baazov’s defense attorney argued that the release of documents that the AMF wanted back meant that Baazov could not get a fair trial.
More from the release from Baazov’s PR on Wednesday’s ruling:
Judge Salvatore Mascia, in a stunning ruling, found that the Quebec securities regulator had failed to disclose evidence to the three accused men and he had no choice but to stay the charges.
“When the circumstances justify it, the courts must stay the proceedings. This is only to be used in the most dramatic cases. There must be no other acceptable solution that might right the wrongs,” said Mascia.
He continued: “In this case, do the accumulation of mistakes require a stay of proceedings? Yes.”
AMF lawyer Geneviève Régnier had previously hoped the court would allow the case to continue. More from the CP:
She said that previous court decisions have stated that “perfection is rare” in disclosure of evidence and that a stay of proceedings is the “most draconian” corrective measure for such an error in the justice system.
The ruling from the court in Quebec appears to bring to an end a court case that had been going on for two years.
The charges stem from activity in Amaya shares around the time of the company’s acquisition of PokerStars. Amaya is now known as The Stars Group.
In March of 2016, the AMF filed charges against Baazov “for aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya inc., and communicating privileged information.”
Baazov had pleaded not guilty in the case.