On or around 06/19/2017 (Court's order of dismissal)
Filing Date: January 13, 2016
According to the law firm press release, the complaint charges GoPro and certain of its officers with violations of the federal securities laws. Specifically, the complaint alleges that throughout the Class Period, defendants failed to disclose: (1) that the Company was experiencing weak sales of its HERO line of cameras throughout the Class Period; (2) that the Company was experiencing weak HERO4 Session sales at the time the third Quarter guidance was announced; (3) 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; (4) that the Company’s third and fourth quarter 2015 guidance was inflated and unrealistic; and (5) 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 April 28, 2016, the Court issued an Order appointing lead plaintiffs and approving lead counsel. Lead Plaintiffs filed a consolidated complaint on June 21.
An amended complaint was filed on July 28.
On May 1, 2017, the Court granted Defendants' Motion to Dismiss, with leave to amend. Plaintiffs declined to amend, thus this case was dismissed with prejudice on June 19.
Company & Securities Information
Defendant: GoPro, Inc.
Sector: Consumer Cyclical
Headquarters: United States
Ticker Symbol: GPRO
Company Market: NASDAQ
Market Status: Public (Listed)
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