NEW YORK, Oct. 3, 2014 /PRNewswire/ -- Bronstein, Gewirtz
& Grossman, LLC is investigating potential claims on behalf of
purchasers of the securities of GoPro, Inc. ("GoPro" or the
"Company") (NasdaqGS: GPRO -News). Such investors are advised
to contact Peretz Bronstein or his
investor relations coordinator Eitan
Kimelman at info@bgandg.com or 212-697-6484.
The investigation focuses on possible breaches of fiduciary duty
by certain insiders to avoid lock-up restrictions associated with
the Company's recent IPO.
On October 2, 2014 GoPro Founders
Nicholas and Jill Woodman announced
that on the following day they planned to "gift" approximately 5.8
million shares from their stake in GoPro to the Nicholas + Jill
Woodman Foundation, a charitable organization. The Woodmans reached
a deal with JPMorgan, the lead book-running manager of GoPro's
June 2014 Initial Public Offering, to
release the charitable organization from the lock-up arrangement
effective Friday. Regulatory filings prior to GoPro's IPO state
that the lock-up restriction provides that major shareholders (like
the Woodmans) can only transfer shares under particular
circumstances—including the making of a "bona fide gift." However,
any recipient of the gifted shares must be "bound by the terms of
the lock-up agreement."
If you are aware of any facts relating to this investigation, or
purchased shares of GoPro, you can assist this investigation by
contacting Peretz Bronstein or his
Investor Relations Coordinator Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email info@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address, email
and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC