Hello GoPro Karma Pilot!
Join our Go Pro Karma community today!
Sign up

Could this spell the end of Gopro - New class action lawsuit

LuvMyTJ

Well-Known Member
Joined
Dec 16, 2015
Messages
55
Reaction score
34
Location
New York
The lawsuits allege that, during the Class Period, defendants made false and misleading statements and/or omitted material adverse information regarding GoPro’s business and prospects. Specifically, it is alleged that the Company failed to disclose that demand for GoPro products had dramatically declined, that demand for Karma drones was so weak the Company could no longer afford to manufacture them profitably, that GoPro would be forced to slash prices on some of its best-selling products, and that, as a consequence, GoPro was not on track to achieve the financial results it had led the market to expect during the last Period.

It is also alleged that certain of the Company’s senior executives sold their personally-owned GoPro shares at artificially inflated prices, including GoPro’s CEO and CFO, who collectively sold more than $6.5 million of GoPro stock in November 2017.

SOURCE: - Scott+Scott, Attorneys at Law, LLP Alerts Investors to Securities Class Actions Against GoPro, Inc. (GPRO) - sUAS News - The Business of Drones
 
Last edited:
  • Like
Reactions: HardRockJeep

New Threads

Members online

No members online now.

Forum statistics

Threads
930
Messages
6,625
Members
1,995
Latest member
juanhzk