NEW YORK, Feb. 3, 2018 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against GoPro, Inc. (“GoPro” or the “Company”) (NASDAQ: GPRO) and certain of its officers. The class action, filed in United States District Court, for the Northern District of California, and docketed under 18-cv-00265, is on behalf of a class consisting of investors who purchased or otherwise acquired the securities of GoPro between August 4, 2017 and January 5, 2018, both dates inclusive (the “Class Period”). Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased GoPro securities between August 4, 2017, and January 5, 2018, both dates inclusive, you have until March 12, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and quantity of shares purchased.
GoPro, Inc. develops and manufactures wearable and gear mountable cameras along with related accessories. Its primary product offerings include: HERO5/HERO6, a line of cloud-connected cameras; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, a desktop app that provides expanded editing options for power users; Capture, a mobile app that allows users to preview and play back shots, control their GoPro cameras, and share content on the move using their smartphones; Karma, a compact, foldable drone and versatile stabilization solution; and Karma Grip, a handheld and body-mountable camera stabilizer to capture zero-shake and smooth video. GoPro markets and sells its products primarily through retailers and distributors, as well as through its website.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) demand for the GoPro brand had dramatically declined and retailers were not stocking up for 2017 holiday sales to the extent GoPro had budgeted for;