WILMINGTON, Del., Jan. 15, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of GoPro, Inc. (NASDAQ:GPRO)?
- Did you purchase your shares between July 21, 2015 and January 13, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of GoPro, Inc. (“GoPro” or the “Company”) (NASDAQ:GPRO) between July 21, 2015 and January 13, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of GoPro during the Class Period, or purchased shares prior to the Class Period and still hold GoPro, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/gopro-inc-gpro.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on January 13, 2016, the Company issued a press release disclosing preliminary fourth quarter 2015 revenue of $435 million, falling below its guidance of $500 million - $550 million. GoPro also announced that it planned to reduce its workforce by approximately 7% and incur approximately $5 million to $10 million in restructuring costs, substantially all of which relates to severance costs.
On this news, shares of GoPro dropped over 14%, closing at $12.48 per share on January 14, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than March 14, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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