Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against GoPro, Inc. (GPRO)
January 15 2016 - 11:00PM
Gainey McKenna & Egleston announces that a class action lawsuit
has been filed against GoPro, Inc. (“GoPro” or the “Company”)
(Nasdaq:GPRO) in the United District Court for the Northern
District of California on behalf of a class consisting of all
persons or entities who purchased GoPro securities between July 21,
2015 through January 13, 2016, inclusive (the “Class
Period”). This class action seeks to recover damages against
Defendants for alleged violations of the federal securities laws
under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that Defendants issued
materially false and misleading statements to investors and/or
failed to disclose that: (1) GoPro was experiencing weak sales of
its HERO line of cameras; (2) GoPro was experiencing weak HERO4
Session sales at the time the third Quarter guidance was announced;
(3) GoPro’s third quarter 2015 guidance was based on the assumption
that GoPro would be able to sell a significant additional amount of
HERO4 Session cameras; (4) GoPro’s third and fourth quarter 2015
guidance was inflated and unrealistic; and (5) as a result,
Defendants’ statements about GoPro’s business, operations, and
prospects were false and misleading and/or lacked a reasonable
basis. When the true details entered the market, the lawsuit
claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must
move the Court no later than March 14, 2016.
A lead plaintiff is a representative party acting on behalf of
other class members in directing the litigation. If you wish
to join the litigation, or to discuss your rights or interests
regarding this class action, please contact Thomas J. McKenna, Esq.
or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at
(212) 983-1300, or via e-mail at tjmckenna@gme-law.com or
gegleston@gme-law.com.
Please visit our website at
http://www.gme-law.com for more information about the firm.
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