Harwood Feffer LLP Announces Investigation of GoPro, Inc.

Jan 15, 2016, 15:47 ET from Harwood Feffer LLP

NEW YORK, Jan. 15, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of GoPro, Inc. ("GoPro" or the "Company") (NASDAQ: GPRO), concerning whether the board has breached its fiduciary duties to shareholders.

On October 28, 2015, the Company disclosed disappointing third quarter 2015 results.  In particular, GoPro reported revenue approximately 10% below guidance.  The Company's CEO attributed the earnings miss to poor sales of the HERO4 Session camera, "our guidance going into the quarter was actually for a significant additional amount of Session to ship. . . . Session didn't sell through as well as we anticipated . . . ." 

On January 13, 2016, GoPro announced preliminary results for the fourth quarter of 2015 and disclosed revenue of $435 million, approximately 25% below guidance.  The Company further stated that it plans to cut its workforce by 7% and will incur up to $10 million in restructuring costs. 

On this news, GoPro stock fell over 25%. 

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own GoPro shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq. Benjamin I. Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400                           (212)935-7400 Email:  bsachsmichaels@hfesq.com Website:   http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

Attorney Advertising. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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