SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

November 28, 2016 10:45 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of GoPro, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of January 17, 2017 - GPRO

NEW YORK, NY--(Marketwired - November 28, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of GoPro, Inc. ("GoPro") (NASDAQ: GPRO) between September 19, 2016 and November 4, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of California. To get more information go to:

http://www.zlk.com/pslra/gpro-litigation

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that during the Class Period, GoPro made false and misleading statements and/or failed to disclose that: (i) GoPro's Karma drones were prone to losing power midflight, causing them to fall out of the sky; (ii) the Company had thus significantly overstated the utility of, and likely customer demand for, the Karma drone; (iii) the foregoing issue, when publicly known, would necessitate a costly recall of the Company's Karma drones; and (iv) as a result, GoPro's public statements were materially false and misleading at all relevant times.

On November 3, 2016, GoPro announced it would decrease revenue guidance for 2016 from a range of $1.35 billion-$1.5 billion to a range of $1.25 billion-$1.3 billion. Then on November 8, 2016, GoPro announced a recall of approximately 2,500 Karma drones.

If you suffered a loss in GoPro you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com