Cases
GoPro, Inc. (NASDAQ: GPRO)
Securities Class Action
Overview
Overview
- Date:
- 11/30/2016
- Company Name:
- GoPro, Inc.
- Stock Symbol:
- GPRO
- Class Period:
- FROM 9/19/2016 TO 11/4/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Central California
NEW YORK, November 30, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Northern District Court on behalf of all persons or entities who acquired the GoPro, Inc. (NASDAQ: GPRO) securities between September 19, 2016 to November 4, 2016 (the “Class Period”).
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. When the above news was released to the public, the value of GoPro declined, causing investors severe harm.
If you acquired GoPro securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
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. When the above news was released to the public, the value of GoPro declined, causing investors severe harm.
If you acquired GoPro securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.