On July 26, 2017, United States District Court Judge Claudia Wilken of the Northern District of California denied a motion to dismiss filed by GoPro, Inc. (“GoPro”) and certain of its executive officers and directors. The Court sustained claims alleging that the defendants violated the federal securities laws by making materially false and misleading statements regarding, inter alia, GoPro’s revenue guidance and its Karma® drone. This victory is particularly significant in light of the demanding pleading requirements that the Private Securities Litigation Reform Act of 1995 imposes on actions alleging securities fraud. A copy of the Court’s decision is available below.
If you purchased GoPro common stock between September 19, 2016 and November 8, 2016, inclusive, and would like to discuss your legal rights, call Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or send an email to rgonnello@faruqilaw.com.