NEW YORK, Oct. 2, 2014 /PRNewswire/ -- Levi & Korsinsky, LLP is investigating GoPro, Inc. ("GoPro" or the "Company") (Nasdaq: GPRO) in connection with possible breaches of fiduciary duty by certain insiders.
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On October 2, 2014 GoPro Founders Nicholas and Jill Woodman announced that on the following day they planned to "gift" approximately 5.8 million shares from their stake in GoPro to the Nicholas + Jill Woodman Foundation, a charitable organization. The Woodmans reached a deal with JPMorgan, the lead book-running manager of GoPro's June 2014 Initial Public Offering, to release the charitable organization from the lock-up arrangement effective Friday. GoPro's regulatory filings prior to the IPO state that the lock-up restriction provides that major shareholders (like the Woodmans) can only transfer shares under particular circumstances—including the making of a "bona fide gift." However, any recipient of the gifted shares must be "bound by the terms of the lock-up agreement."
If you own common stock in GoPro and wish to obtain additional information, please contact Eduard Korsinsky, Esq. either via email at ek@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/gopro-gpro.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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Eduard Korsinsky, Esq.
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Tel: (212) 363-7500
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