The Drone News
December 6, 2016
The Shareholders Foundation announces that an investor, who purchased shares of GoPro Inc (NASDAQ:GPRO), filed a lawsuit over alleged violations of Federal Securities Laws by GoPro Inc in connection with its Karma drone..
Press release from: Shareholders Foundation
A lawsuit was filed on behalf of investors in GoPro Inc (NASDAQ:GPRO) shares over alleged securities laws violations.
Investors who purchased shares of GoPro Inc (NASDAQ:GPRO) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2017. NASDAQ:GPRO investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose thatGoPro’s Karma drones were prone to losing power midflight, causing them to fall out of the sky, that the Company had thus significantly overstated the utility of and likely customer demand for the Karma drone, that the foregoing issue, when publicly known, would necessitate a costly recall of the Company’s Karma drones, and that as a result, GoPro’s public statements were materially false and misleading at all relevant times.On October 23, 2016, following months of delays, GoPro Inc released the Karma drone, a compact, foldable drone designed for aerial photography using GoPro’s cameras.
Then on November 8, 2016, GoPro Inc announced the Company’s financial and operating results for the quarter ended September 30, 2016. Among other information, GoPro Inc provided revenue guidance for 2016 in the range of $1.25 billion and $1.3 billion.
On November 8, 2016, GoPro Inc also announced the recall of the approximately 2,500 Karma drones purchased by consumers since the product’s release, advising that the Company had discovered that Karma units were prone to losing power during operation.
Shares of GoPro Inc (NASDAQ:GPRO) declined from $17.15 per share in September 2016 to as low as $9.75 per share on November 9, 2016.
Those who purchased shares of GoPro Inc (NASDAQ:GPRO) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
This release was published on openPR.
Investors who purchased shares of GoPro Inc (NASDAQ:GPRO) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2017. NASDAQ:GPRO investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose thatGoPro’s Karma drones were prone to losing power midflight, causing them to fall out of the sky, that the Company had thus significantly overstated the utility of and likely customer demand for the Karma drone, that the foregoing issue, when publicly known, would necessitate a costly recall of the Company’s Karma drones, and that as a result, GoPro’s public statements were materially false and misleading at all relevant times.On October 23, 2016, following months of delays, GoPro Inc released the Karma drone, a compact, foldable drone designed for aerial photography using GoPro’s cameras.
Then on November 8, 2016, GoPro Inc announced the Company’s financial and operating results for the quarter ended September 30, 2016. Among other information, GoPro Inc provided revenue guidance for 2016 in the range of $1.25 billion and $1.3 billion.
On November 8, 2016, GoPro Inc also announced the recall of the approximately 2,500 Karma drones purchased by consumers since the product’s release, advising that the Company had discovered that Karma units were prone to losing power during operation.
Shares of GoPro Inc (NASDAQ:GPRO) declined from $17.15 per share in September 2016 to as low as $9.75 per share on November 9, 2016.
Those who purchased shares of GoPro Inc (NASDAQ:GPRO) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
This release was published on openPR.
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