NEW YORK, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Stull, Stull & Brody filed a class action lawsuit against GoPro, Inc. ("GoPro") (NASDAQ:GPRO) and certain of its officers in the United States Court for the Northern District of California, Case Number 3:18-cv-00533, on behalf of purchasers of GoPro securities during the period August 4, 2017, and January 5, 2018, inclusive (the "Class Period"), pursuing remedies pursuant to the Securities Exchange Act of 1934 ("Exchange Act").
If you purchased or acquired GoPro common shares during the Class Period and wish to serve as a lead plaintiff you may move the Court no later than March 12, 2018. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Howard T. Longman at 1-212-687-7230 ext.110 or at gpro@ssbny.com.
The complaint alleges that defendants issued materially false and misleading statements regarding the prospects of, among other things, GoPro's Karma drone. On January 8, 2018 a GoPro press release stated, that GoPro: would "exit the [aerial] market after selling its remaining Karma inventory"; reduce its workforce by more than 254 employees; was forced to lower the price of its HERO5 and HERO6 cameras in order to compete; and that its revenue for its Fourth Quarter was negatively impacted. On this news, GoPro's common shares opened at $6.69, down from the prior close of $7.52, and down over 43% its Class Period high ($11.89).
Any member of the proposed class may move the Court to be appointed lead plaintiff by no later than March 12, 2018. Your ability to share in any recovery is not whether you serve as lead plaintiff. You may retain Stull, Stull & Brody or other counsel of your choice to serve as your counsel in this action.
Stull, Stull & Brody, with offices in New York and Beverly Hills (www.ssbny.com), has litigated many class actions for violations of securities laws on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements.
Attorney advertising. Prior results do not guarantee a similar outcome. This press release may be considered Attorney Advertising in some jurisdictions under applicable laws and ethical rules.