MONTREAL -- A Quebec judge has refused to stay insider trading charges against former Amaya CEO David Baazov and other accused.
Provincial court Judge Salvatore Mascia rejected defence motions to end the case because of the length of time it has taken to reach the trial stage and late filing of prosecution documents.
Defence lawyers have argued that the case won't be heard in the prescribed time limits as spelled out by a Supreme Court ruling known as the Jordan decision.
Prosecutors called the defence request a "fishing expedition" that would ultimately fail and described it as an exercise in gathering information for another stay request down the road.
Baazov's lawyer, Sophie Melchers, has said that 16 million files were released to the defence in mid-September and that the case won't be able to proceed in a timely fashion.
Baazov, 37, has pleaded not guilty to securities-related charges following an investigation by the Autorite des marches financiers, Quebec's stock market regulator, into the allegations of insider trading.
He is charged with five counts, including influencing or attempting to influence the market price of Amaya's securities.
Two other people, Yoel Altman and Benjamin Ahdoot, and three companies face 18 additional charges stemming from the regulator's investigation and have also pleaded not guilty.
The charges carry penalties of up to five years in prison and $5 million in fines.
The alleged privileged information involves acquisitions that include US$4.9-billion deal for PokerStars in 2014 that transformed the former Montreal firm into the world's largest online poker company.
None of the allegations have been proven in court.
Amaya is now known as The Stars Group Inc. and has moved its operations to Toronto