The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of GoPro, Inc. Investors and
Encourages Investors to Contact the Firm
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors
who purchased GoPro, Inc. (“GoPro” or the “Company”) (NASDAQ: GPRO) securities between September 19, 2016 and November 4, 2016, inclusive (the “Class Period”). GoPro
investors have until January 17, 2017 to file a lead plaintiff motion.
Investors suffering losses on their GoPro investments are encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
GoPro develops and sells mountable and wearable cameras, and accessories in the United States and internationally.
On November 8, 2016, after market close, GoPro announced that it was recalling all of its Karma drones. According to the
Company, the drones were recalled due to instances where “units lost power during operation”. The Karma drones had only just been
released on October 23, 2016 and the Company expressed hope that they would be a popular seller during the Holiday shopping season.
Notably, the Company also announced disappointing third-quarter 2016 financial results on November 4, 2016.
On this news, shares of GoPro were down as much as 10% during intra-day trading on November 9, 2016.
According to the Complaint filed in this lawsuit, GoPro made false and misleading statements to investors and/or failed to
disclose: that the Company's Karma drones were prone to losing power midflight, causing them to fall out of the sky; that GoPro
overstated the utility and likely customer demand for the Karma drone; that there would likely be a costly recall of GoPro's Karma
drones when it is publicly known; and that as a result of the above, GoPro's public statements were materially false and misleading
at all relevant times.
If you purchased shares of GoPro during the Class Period you may move the Court no later than January 17,
2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of
the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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