Your rights may be affected by legal proceedings in this litigation:
TO ALL PERSONS WHO PURCHASED SHARES OF THE COMMON STOCK OF GOPRO, INC. (ticker symbol: “GPRO”) IN GOPRO’S JUNE 26, 2014 INITIAL PUBLIC OFFERING (THE “IPO”), OR BETWEEN JUNE 26, 2014 AND NOVEMBER 19, 2014, INCLUSIVE, AND WERE DAMAGED THEREBY (THE “CLASS”).
Summary of the Action
This Action was filed on January 25, 2016 and asserts claims under Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 (“1933 Act”) (15 U.S.C. §§ 77k, 77l(a)(2), and 77o), with respect to the dissemination of allegedly false, misleading, and materially incomplete statements in the registration statement and incorporated prospectus, as amended (the “Offering Materials”) and filed by defendant GoPro with the Securities and Exchange Commission (“SEC”) on or about June 26, 2014 in connection with the public offering of approximately 20,470,000 shares of GoPro Class A common stock (the “IPO”).
On October 7, 2016, Plaintiffs filed an Amended Complaint which alleges that the Offering Materials were materially misleading because they failed to disclose that, prior to the IPO, GoPro allegedly adopted an “aggressive cost reduction strategy” in 2013 to keep the Company’s expenses below budgeted amounts, in an effort to make the Company look more attractive for a potential IPO. The Amended Complaint further alleges that by reducing the Company’s expenses and headcount, the Company failed to hire enough employees before the IPO and as a result, experienced product development issues and defects. In addition, the Amended Complaint alleges that the Offering Materials contained material omissions and false statements relating to a variety of aspects of GoPro’s business, including its intellectual property, competitive risks, products and financial results.
How do I obtain more information?
If you would like more information, you may contact the Claims Administrator by calling toll-free (833) 380-5566, emailing info@GoProShareholderLitigation.com or mailing a letter to:
GoPro Shareholder Litigation Settlement
c/o JND Legal Administration
P.O. Box 91346
Seattle, WA 98111
A copy of the Notice is available on the Important Documents page. Inquiries should NOT be directed to the Court.