Gpro investors: gpm announces an expanded class period in the securities class action against gopro, inc.

Los angeles--(business wire)--glancy prongay & murray llp (“gpm”) announces an expanded class period in the class action lawsuit filed on behalf of investors who purchased gopro, inc. (“gopro” or the “company”) (nasdaq: gpro) securities between november 26, 2014 and january 13, 2016, inclusive (the “class period”). injured investors with losses of $1,000,000 or more are encouraged to contact lesley portnoy of gpm at 310-201-9150 prior to the march 14, 2016 lead plaintiff deadline to discuss their legal rights. the complaint alleges that defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) gopro was unable to develop and/or bring to market a drone product to house its cameras; (2) gopro was experiencing weak sales of its hero line of cameras; (3) gopro was experiencing weak hero4 session sales at the time the third quarter guidance was announced; (4) gopro’s third quarter 2015 guidance was based on the assumption that gopro would be able to sell a significant additional amount of hero4 session cameras; (5) gopro’s third and fourth quarter 2015 guidance was inflated and unrealistic; (6) despite dismal sales of the hero4 session, gopro had not accelerated development of its drone product to make it available for sale during the 2015 christmas season and (6) a 2016 first half launch of a drone product was not likely to be successful. as a result of the above, defendants’ statements about gopro’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. if you purchased gopro securities during the class period, you have until march 14, 2016 to request that the court appoint you as lead plaintiff. if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact lesley portnoy, esquire, of gpm, 1925 century park east, suite 2100, los angeles, california 90067 at 310-201-9150, toll-free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. if you inquire by email please include your mailing address, telephone number and number of shares purchased. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
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