IMPORTANT INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against GoPro, Inc. & Encourages Investors ...
November 17 2016 - 2:02PM
Business Wire
Lundin Law PC, a shareholder rights firm, announces a class
action lawsuit against GoPro, Inc. (“GoPro” or the “Company”)
(Nasdaq: GPRO) concerning possible violations of federal securities
laws between September 19, 2016 and November 4, 2016 inclusive (the
“Class Period”). Investors who purchased or otherwise acquired
shares during the Class Period should contact the firm prior to the
January 17, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a
class is certified, you are not considered represented by an
attorney. You may also choose to do nothing and be an absent class
member.
According to the Complaint, GoPro made false and misleading
statements to investors and/or failed to disclose: that the
Company’s Karma drones were prone to losing power midflight,
causing them to fall out of the sky; that GoPro overstated the
utility and likely customer demand for the Karma drone; that there
would likely be a costly recall of GoPro’s Karma drones when it is
publicly known; and that as a result of the above, GoPro’s public
statements were materially false and misleading at all relevant
times.
On November 8, 2016, the Company announced a recall of all of
its Karma drones, due to instances where “units lost power during
operation.” GoPro also announced disappointing third-quarter 2016
financial results on November 4, 2016.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders’
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161117006217/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.comhttp://lundinlawpc.com/
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