NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of GoPro, Inc. (NASDAQ: GPRO) who purchased shares between August 4, 2017 and January 5, 2018. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) 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; and (2) as a result, Defendants' public statements were materially false and misleading at all relevant times. On January 8, 2018, GoPro announced it will reduce its global workforce by 20% and is exiting the drone market “after selling its remaining Karma inventory.”
Shareholders have until March 12, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/gopro-inc?wire=2.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665