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New Federal Securities Cases

GoPro, Inc.

January 10, 2018, New York: 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, or by email at telrod@kmllp.com, or by filing out the form below to discuss your rights or interests with respect to these matters without any cost to you.


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GoPro, Inc. Contact Form



Attorneys

Thomas W. Elrod


Kirby McInerney LLP | 825 Third Avenue | NYC 10022 | Tel. 212.371.6600 | Fax 212.751.2540

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