Class-action suit filed against GoPro

By The Northern California Record | Feb 5, 2016

SAN FRANCISCO – A consumer electronics company is facing a class-action lawsuit over claims it violated federal securities laws.

Rene Van Meerbeke filed a complaint on behalf of all others similarly situated on Feb. 4 in the U.S. District Court for the Northern District of California against GoPro Inc., CEO Nicholas D. Woodman, Chief Financial Officer Jack R. Lazar and President Anthony J. Bates, alleging that the electronics company knowingly issued false statements concerning company's current financial condition, which caused inflated prices.

According to the complaint, the plaintiff alleges that, between July 21, 2015, and Jan. 13, he purchased Go Pro securities and paid artificially inflated prices. The plaintiff alleges the defendants' stock prices dropped after quarterly financial reports were issued during the class period that stated poor financial results.

The plaintiff seeks the following: compensation for all damages including interest, attorney's fees and cost of the suit including any other relief this court deems just. Van Meerbeke is represented by Shawn A. Williams of Robbins Geller Rudman & Dowd LLP Shawn A. Williams in San Francisco in California.

U.S. District Court for the Northern District of California Case number 3:16-cv-00598-RS

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