Cases
GoPro, Inc. (NASDAQ: GPRO)
Securities Class Action
Overview
Overview
- Date:
- 1/11/2018
- Company Name:
- GoPro, Inc.
- Stock Symbol:
- GPRO
- Class Period:
- FROM 8/4/2017 TO 1/5/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Northern California
NEW YORK, January 11, 2018 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired GoPro, Inc. (NASDAQ: GPRO) securities between August 4, 2017 and January 5, 2018 (the “Class Period”). 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 Mazor Robotics securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, 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 Fortunato 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.
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 Mazor Robotics securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, 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 Fortunato 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.