GoPro (GPRO) Alert: Johnson Fistel Announces Investigation of GoPro, Inc.; Encourages Investors to Contact the Firm for Additional Information

SAN DIEGO, Jan. 9, 2018 /PRNewswire/ -- Johnson Fistel, LLP, is investigating potential violations of federal securities laws by GoPro, Inc. (NASDAQ: GPRO) ("GoPro") and certain of its officers and directors.

On August 3, 2017, GoPro made bullish statements, including emphasizing that GoPro was then "building momentum" and experiencing strong demand and then on September 7, 2017 raised financial guidance. Again on, November 1, 2017, GoPro issued a press release announcing its 3Q17 financial results and providing 4Q17 and updated FY17 positive guidance.

On Monday January 8, 2018, before the opening of trading, GoPro reported that for its fourth quarter 2017 sales were $340 million, analyst were expecting sales to exceed $470 million. GoPro also disclosed it was cutting more than one-fifth of its workforce and exiting the drone market.  The workforce reduction would cost GoPro $33 million, mainly in severance costs.  Following this news, the price of GoPro stock declined, falling from its close of $7.52 per share on the evening of January 5th to trade as low as $5.04 per share in intraday trading on January 8th and then closed at $6.56 per share on January 8th, on extremely unusually high trading volume of more than 59 million shares trading. 

If you have information that could assist in this investigation, including former employees and others, or if you are a  GoPro shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) by email or by phone at 619-814-4471. If you email, please include your phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP