GOPRO, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Securities Class Action Lawsuit Has Be...
January 15 2016 - 7:33PM
Wolf Haldenstein Adler Freeman & Herz LLP announces that a
securities class action lawsuit has been filed in the United States
District Court for the Northern District of California on behalf of
shareholders who purchased securities of GoPro, Inc. (“GoPro" or
the “Company") (NASDAQ:GPRO) within the class period of July 21,
2015 and January 13, 2016, inclusive.
Shareholders who incurred losses on
shares purchased within the Class Period are urged to contact the
firm immediately at classmember@whafh.com or (800)
575-0735 or (212) 545-4774.
If you purchased
shares of GoPro, Inc., you may, no later than
March 14, 2016, request that the Court appoint you lead
plaintiff of the proposed class.
On October 28, 2015, GoPro issued a press
release announcing disappointing third quarter 2015 results,
including revenue of $400 million—far below the Company’s guidance
of $430-$445 million. During an earnings call held the same day,
GoPro CEO Nick Woodman attributed the Company’s poor performance,
in part, to weak sales related to the Company’s HERO4 Session
camera.
Subsequently on January 13, 2016, GoPro
announced a preliminary fourth quarter 2015 revenue of $435
million, materially below the Company’s quarterly guidance of
$500-$550 million. The Company also announced a
plan to reduce its workforce by
approximately 7 percent and is
expected to incur approximately $5
to $10 million in restructuring costs.
As a result of this disclosure, GoPro shares
closed at $12.48 on January 14, a decline of $2.13 per share. GoPro
shares traded as high as $65.49 as recently as August 10, 2015.
Wolf Haldenstein has extensive experience in the
prosecution of securities class actions and derivative litigation
in state and federal trial and appellate courts across the
country. The firm has attorneys in various practice areas;
and offices in New York, Chicago and San Diego. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein Adler Freeman & Herz LLP
by telephone at (800) 575-0735, via e-mail at
classmember@whafh.com, or visit our website at www.whafh.com.
All e-mail correspondence should make reference to the “GoPro
investigation.”
Attorney Advertising. Prior results do not
guarantee or predict a similar outcome.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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