Kirby McInerney LLP Advises GoPro, Inc. Investors of Potential Claims
January 10 2018 - 6:48PM
Business Wire
The law firm of Kirby McInerney LLP announced today that a class
action lawsuit has been filed in the United States District Court
for the California Northern District Court against GoPro, Inc.
(“GoPro” or the “Company”) (NASDAQ: GPRO) on behalf of investors
that acquired GoPro securities during the period from November 2,
2017 through January 5, 2018 (the “Class Period”), seeking recovery
of damages for alleged violations of the federal securities laws.
Pursuant to applicable law, investors have until March 12, 2018 to
apply to the Court to be appointed as lead plaintiff in the
lawsuit.
GoPro develops and sells mountable and wearable cameras, and
accessories in the United States and internationally. GoPro’s
product offerings include, Karma, a premium remote controlled drone
that retails for $799.
The lawsuit alleges that Defendants failed to disclose that the
market prospects for Karma were untenable due to margin challenges
in an extremely competitive aerial market and a hostile regulatory
environment in Europe and the United States. On January 8, 2018,
during pre-market hours, GoPro issued a press release titled,
“GoPro Announces Preliminary Fourth Quarter 2017 Results,”
announcing that its reducing its global workforce by 20% and is
exiting the aerial market “after selling its remaining Karma
inventory.” On this news, shares of GoPro fell from $7.52 per share
to close at $6.56 per share on January 8, 2018 (a decline of
$0.96).
If you purchased or otherwise acquired GoPro securities, have
information or would like to learn more about these claims, please
contact Thomas W. Elrod, Esq. of Kirby McInerney LLP at
212-371-6600, Toll-Free at 888-529-4787, by email at
telrod@kmllp.com, or by filling out this contact form, to discuss
your rights or interests with respect to these matters without any
cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, whistleblower and consumer
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars, and the firm’s achievements and quality of service have
been chronicled in numerous published decisions.
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/20180110006343/en/
Kirby McInerney LLPThomas W. Elrod, Esq.,
212-371-6600telrod@kmllp.comhttps://www.kmllp.com
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