SAN DIEGO, Jan. 9, 2018 /PRNewswire/ -- Johnson Fistel, LLP, is investigating potential
violations of federal securities laws by GoPro, Inc. (NASDAQ:
GPRO) ("GoPro") and certain of its officers and directors.
On August 3, 2017, GoPro made
bullish statements, including emphasizing that GoPro was then
"building momentum" and experiencing strong demand and then on
September 7, 2017 raised financial
guidance. Again on, November 1, 2017,
GoPro issued a press release announcing its 3Q17 financial results
and providing 4Q17 and updated FY17 positive guidance.
On Monday January 8, 2018, before
the opening of trading, GoPro reported that for its fourth quarter
2017 sales were $340 million, analyst
were expecting sales to exceed $470
million. GoPro also disclosed it was cutting more than
one-fifth of its workforce and exiting the drone market. The
workforce reduction would cost GoPro $33
million, mainly in severance costs. Following this
news, the price of GoPro stock declined, falling from its close of
$7.52 per share on the evening of
January 5th to trade as low as
$5.04 per share in intraday trading
on January 8th and then closed at
$6.56 per share on January 8th, on extremely unusually high trading
volume of more than 59 million shares trading.
If you have information that could assist in this investigation,
including former employees and others, or if you are a GoPro
shareholder and are interested in learning more about the
investigation or your legal rights and remedies, please contact
Jim Baker
(jimb@johnsonfistel.com) by email or by phone at 619-814-4471.
If you email, please include your phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP