I’m not a lawyer, obviously, and will get Loretta and Jonathan to explain very slowly to me what this means.
As I layman I conclude that Khang and Khang think GoPro investors were sold a pup.
Khang & Khang LLP (the “Firm”) announces a class action lawsuit against GoPro, Inc. (“GoPro” or the “Company”) (NASDAQ: GPRO). Investors who purchased or otherwise acquired GoPro shares between September 19, 2016 and November 4, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm by the January 17, 2017 lead plaintiff motion deadline.
If you purchased shares of GoPro during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that GoPro made false and misleading statements to investors and/or failed to disclose: that the Company’s Karma drones were prone to losing power midflight, causing them to fall out of the sky; that GoPro overstated the utility and likely customer demand for the Karma drone; that there would likely be a costly recall of GoPro’s Karma drones when it is publicly known; and that as a result of the above, GoPro’s public statements were materially false and misleading at all relevant times. On November 8, 2016, the Company announced a recall of all of its Karma drones, due to instances where “units lost power during operation.” GoPro also announced disappointing third-quarter 2016 financial results on November 4, 2016. When this information was released, shares of GoPro declined in value, causing investors harm.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP