HAGENS BERMAN GPRO INVESTOR ALERT: Hagens Berman Investigating GoPro, Inc. (GPRO) for Possible Securities Fraud

SAN FRANCISCO, Oct. 7, 2019 /PRNewswire/ -- Hagens Berman alerts GoPro, Inc. GPRO investors to the firm's investigation of possible violations of federal securities laws and urges GPRO investors who have suffered losses in excess of $100,000 to contact the firm.

Relevant Holding Period: Before Oct. 3, 2019
Email: GPRO@hbsslaw.com
Visit: www.hbsslaw.com/investor-fraud/GPRO
Call: Reed Kathrein, who is leading the firm's investigation: (510)725-3000.

GoPro Inc. (GPRO) Investigation:

The investigation centers on whether GoPro misrepresented and concealed severe supply chain issues adversely impacting the production of its new flagship HERO8 Black camera.

Over the past several months, GoPro has promoted the release of its HERO8 Black camera, suggesting the new product would significantly contribute to double digit revenue growth.

But then on October 2, 2019, GoPro shocked investors when it warned that earnings for the second half of its fiscal year would miss expectations due to production delays in its HERO8 Black camera. Specifically, the company said that "due to a late stage production delay, HERO8 Black shipments will shift from the third quarter to the fourth quarter of 2019, resulting in a significant revenue shift between the quarters." As a result, GoPro slashed its estimated second-half revenue growth by one-third. On this news, the stock dropped nearly 20% in a single trading day, wiping out over $120 million in market capitalization.

"We're focused on investors' losses and whether the Company concealed production issues with its HERO8 Black camera," said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding GoPro, Inc. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email GPRO@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

SOURCE Hagens Berman Sobol Shapiro LLP