SAN DIEGO, Oct. 05, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in California on behalf of certain investors who purchased shares of GoPro Inc (NASDAQ:GPRO) over alleged Securities Laws Violations by GoPro Inc.
Investors who purchased shares of GoPro Inc (NASDAQ:GPRO) pursuant to the Company’s June 26, 2014 initial public offering (via the Loyal 3 program) and suffered a financial loss have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On January 13, 2016 a lawsuit was filed against GoPro over alleged securities laws violations. The plaintiff claims that the defendants failed to disclose that the Company was experiencing weak sales of its HERO line of cameras throughout the Class Period, that that the Company was experiencing weak HERO4 Session sales at the time the third Quarter guidance was announced, that the Company’s third quarter 2015 guidance was based on the assumption that GoPro would be able to sell a significant additional amount of HERO4 Session cameras, that the Company’s third and fourth quarter 2015 guidance was inflated and unrealistic, and that, as a result of the foregoing, Defendants’ statements about GoPro’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. On June 21 and July 28, 2016 amended complaints were filed and on September 26, 2016 the defendants filed their motion to dismiss the case.
Those who purchased shares of GoPro Inc (NASDAQ:GPRO) pursuant to the Company’s June 26, 2014 initial public offering via the Loyal3 program and suffered a financial loss have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.