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GOPRO INC (GPRO)
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Kirby McInerney LLP : Advises GoPro, Inc. Investors of Potential Claims

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01/11/2018 | 12:49am CEST

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, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars, and the firm’s achievements and quality of service have been chronicled in numerous published decisions.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2018
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Financials ($)
Sales 2018 1 083 M
EBIT 2018 -49,7 M
Net income 2018 -128 M
Finance 2018 60,4 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 0,63x
EV / Sales 2019 0,64x
Capitalization 741 M
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Technical analysis trends GOPRO INC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 8
Average target price 5,71 $
Spread / Average Target 19%
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Managers
NameTitle
Nicholas Woodman Chairman & Chief Executive Officer
Brian McGee Chief Financial Officer
Edward Arthur Gilhuly Independent Director
Michael E. Marks Independent Director
Kenneth A. Goldman Lead Independent Director
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