NEW YORK, NY / ACCESSWIRE / November 29, 2020 / Pomerantz LLP is investigating claims on behalf of investors of ("GoPro" or the "Company") GoPro, Inc. (NYSE:GPRO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether GoPro and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 18, 2020, GoPro issued a press release "announc[ing] that it proposes to offer $100.0 million aggregate principal amount of convertible senior notes due 2025 (the ‘notes'), subject to market conditions and other factors . . . in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933." GoPro stated that the proceeds of the offering will be used for general corporate purposes and to cover the cost of certain capped call transactions which the Company would enter in connection with the notes pricing.
On this news, GoPro's stock price fell sharply during intraday trading on November 19, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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