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NEW YORK, Jan. 14, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of GoPro, Inc. (“GoPro”) (NASDAQ:GPRO) between July 21, 2015 and January 13, 2016.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of California. If you purchased or otherwise acquired GoPro securities between July 21, 2015 and January 13, 2016, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/gopro.
On October 28, 2015, GoPro issued a press release announcing disappointing third quarter 2015 results, including revenue of $400 million—far below the Company’s guidance of $430-$445 million. During an earnings call held the same day, GoPro CEO Nick Woodman attributed the Company’s poor performance, in part, to weak sales related to the Company’s HERO4 Session camera. Then on January 13, 2016, GoPro announced a preliminary fourth quarter 2015 revenue of $435 million, far below the Company’s guidance of $500-$550 million. The Company also announced a plan to reduce its workforce by approximately 7 percent and is expected to incur approximately $5 to $10 million in restructuring costs.
If you suffered a loss in GoPro you have until March 14, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/gopro.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
