GoPro Class Action Lawsuit Developing

Bartman

Bartman

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Found on Yahoo! Business

http://finance.yahoo.com/news/shareholder-deadline-goldberg-law-pc-194500912.html

SHAREHOLDER DEADLINE: Goldberg Law PC Announces Securities Class Action Lawsuit Against GoPro, Inc. and Encourages Investors With Losses in Excess of $500,000 to Contact the Firm

Goldberg Law PC22 minutes

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    LOS ANGELES--(BUSINESS WIRE)--

    Goldberg Law PC (www.Goldberglawpc.com) announces that a class action lawsuit has been filed against GoPro, Inc. (“GoPro” or the “Company”) (Nasdaq: GPRO). Investors who purchased or otherwise acquired shares between July 21, 2015 and January 13, 2016, (the “Class Period”), are encouraged to contact the firm in advance of the March 14, 2016, lead plaintiff motion deadline.

    If you are a shareholder who suffered a loss during the Class Period, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 13650 Marina Pointe Dr. Suite 1404, Marina Del Rey, CA 90292, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website athttp://www.Goldberglawpc.com, or by email atinfo@goldberglawpc.com.

    The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

    According to the complaint, the Company issued materially false and misleading statements to investors and/or failed to disclose that: (1) GoPro was experiencing weak sales of its HERO line of cameras; (2) GoPro was experiencing weak HERO4 Session sales at the time the third quarter guidance was announced; (3) 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; and (4) GoPro’s third and fourth quarter 2015 guidance was inflated and unrealistic.

    Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.

    This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


    View source version on businesswire.com:http://www.businesswire.com/news/home/20160119006709/en/

    Contact:
    Goldberg Law PC, Los Angeles
    Michael Goldberg, Esq., 800-977-7401
    Brian Schall, Esq., 800-977-7401
    info@goldberglawpc.com
 

DucktileMedia

DucktileMedia

Drone Enthusiast
As though my $40k loss is not worth anything?? I'll never buy a Gopro again in my life after all that. Then I was stupid enough to buy AMBA at $105. it's now at $37! I just can't win.
 

John Doecliff

John Doecliff

Member
I wondered if the company was "jumping the shark" after the hero 4. I Didn't like the session and the didn't see where they could keep going with hero 5, 6 etc. especially when the hero 4 was $500! I like my gopro and I would buy another but the one I have works fine so I don't see another one in my future. I do love all of the gopro knock offs though. You can spend one quarter of the money and get decent 1080 video. Not as good as a gopro but good enough for a lot of us. I'm a big fan of the SJ4000. Gopro pretty much led the revolution for the rest to follow, without them DJI wouldn't have gotten so big so fast.
 


C

cootertwo

Member
I predict there will be a whole lot more business failures, after this hula hoop type of fad has passed. Example, 3DR. I used to drool over their products, back when I first got interested in this fad, but they were too expensive for me, at the time. Now they are still in business, but trying like hell to survive on their one and only product left in production, the Solo. I just bought 2 complete Y6 kits for $249 each !!! Pixhawk included !!! I wished I'd picked up a couple of X8's but everything is gone now. Unless you want a solo for over $1000. When the first GoPro came out, it was the thing to have, then 2, 3, 4, done. Saturated market. The strong survive, the weak, not so much.
 

John Doecliff

John Doecliff

Member
True but there's a big difference between a kit and RTF. The MR market still has a long ways to go. I think agriculture and industrial inspections are an area that has huge growth potential. The base technology has been established now some motivated individuals just need to find the right applications. Aerial photography is just one small thing, I shutter to think what DARPA could come up with. As soon as battery technology (fuel cell) improves a major limitation will have been removed. I think dependence on GPS is a huge Achilles heel for MR's. That would be the next big improvement to move beyond.
 

econfly

econfly

Member
The lawsuit is a fairly typical securities class action. They get filed routinely when a stock price drops, and many don't survive -- just the class action plaintiffs bar doing what it does.

As for GoPro, I think they failed to get beyond their initial innovation of packing existing tech into a nice form factor and adding a little software/firmware. Once the competition came in with their Ambarella / Sony hardware based alternatives (just look at DJI's range of cameras on the Phantom/Inspire lines), the uniqueness of GoPro faded on the low end. There are just too many comparable and cheaper options out there right now. On the high end, Blackmagic (for example) is coming for GoPro with its micro cinema cam (assuming they ever get it out the door).

GoPro, I hope, is planning on something other than another 60 Mbps "action cam". Give us a model with a rectilinear lens, higher quality encoding, remote exposure control (hell, any meaningful exposure control), etc. The problem is, I have no idea if there is a market for this that can save GoPro.

The bottom line right now is that the cheap action cam market is saturated with commodity hardware solutions and with low margins. GoPro can't live in that space as it now exists. The big question is whether they can find a space with the margins and market volume they need to survive.
 


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