DEADLINE ALERT: Brower Piven Reminds Investors Of The January 17, 2017 Deadline In Class Action Lawsuit And Encourages Invest...
January 07 2017 - 6:00AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Northern
District of California on behalf of purchasers of GoPro, Inc.
(Nasdaq: GPRO) (“GoPro” or the “Company”) securities during the
period between September 19, 2016 and November 4, 2016, inclusive
(the “Class Period”). Investors who wish to become proactively
involved in the litigation have until January 17, 2017 to seek
appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in GoPro securities during the Class Period. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. No class has yet been certified in
the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that GoPro’s Karma
drones were prone to losing power midflight causing them to fall
out of the sky; that the Company had significantly overstated the
utility of and likely customer demand for the Karma drones; and
once the information became publicly known, it would necessitate a
costly recall of the Company’s Karma drones.
According to the complaint, following a November 3, 2016 press
release and a filing with the U.S. Securities and Exchange
Commission announcing a significant decrease from the previously
provided financial guidance for 2016, and a November 8, 2016
announcement of a recall of approximately 2,500 Karma drones due to
them losing power during operation, the value of GoPro shares
declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in GoPro securities purchased on or after September 19,
2016 and held through the revelation of negative information during
and/or at the end of the Class Period and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20170107005014/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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