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NEW YORK, Jan. 15, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of shareholders who purchased securities of GoPro, Inc. (“GoPro" or the “Company") (NASDAQ:GPRO) within the class period of July 21, 2015 and January 13, 2016, inclusive.
Shareholders who incurred losses on shares purchased within the Class Period are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774.
If you purchased shares of GoPro, Inc., you may, no later than March 14, 2016, request that the Court appoint you lead plaintiff of the proposed class.
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.
Subsequently on January 13, 2016, GoPro announced a preliminary fourth quarter 2015 revenue of $435 million, materially below the Company’s quarterly 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.
As a result of this disclosure, GoPro shares closed at $12.48 on January 14, a decline of $2.13 per share. GoPro shares traded as high as $65.49 as recently as August 10, 2015.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “GoPro investigation.”
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: [email protected], [email protected] or [email protected] Tel: (800) 575-0735 or (212) 545-4774
