U.S. Markets closed

Faruqi & Faruqi, LLP Announce Notice of Pendency and Settlement of Class Action in the GoPro, Inc. Securities Litigation

NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Faruqi & Faruqi, LLP regarding the GoPro, Inc. Securities Litigation.

TO: ALL PERSONS AND ENTITIES WHO PURCHASED THE COMMON STOCK OF GOPRO, INC. (“GOPRO”) (GPRO) BETWEEN SEPTEMBER 19, 2016 AND NOVEMBER 8, 2016, INCLUSIVE (“CLASS”).

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on September 10, 2019 at 2:30 p.m., before the Honorable Claudia Wilken, at the Ronald V. Dellums Federal Building & United States Courthouse, 1301 Clay Street, Courtroom 6—2nd Floor, Oakland, CA 94612, for the purpose of determining: (1) whether the proposed settlement as set forth in the Stipulation of Settlement dated February 14, 2019 (“Stipulation”) of the above-captioned action (“Litigation”) for the principal amount of $6,750,000 for the Class should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys’ fees in the amount of 25% of the Settlement Fund, and an award to the Lead Plaintiff not to exceed $10,000, and expenses not to exceed $250,000 should be approved.

IF YOU PURCHASED GOPRO COMMON STOCK BETWEEN SEPTEMBER 19, 2016 AND NOVEMBER 8, 2016, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  You may obtain copies of a detailed Notice of Pendency and Settlement of Class Action (“Notice”) and Proof of Claim and Release form (“Proof of Claim and Release”) by writing to GoPro Securities Litigation, c/o Claims Administrator, P.O. Box. 4259, Portland, OR 97208-4259, visiting the website www.GoProSecuritiesLitigation.com, e-mailing the Claims Administrator at Info@GoProSecuritiesLitigation.com, or calling the Claims Administrator toll free at 1-888-595-6496.  Inquiries other than requests for the above-referenced documents may also be made to Plaintiff’s Lead Counsel:

Richard W. Gonnello
FARUQI & FARUQI, LLP
685 Third Avenue
26th Floor
New York, NY 10017

If you are a Class Member, in order to share in the distribution of the Settlement Fund, you must submit a Proof of Claim and Release postmarked or submitted electronically no later than August 20, 2019, establishing that you are entitled to recovery.  NOTE THAT NO CLAIMS LESS THAN $10.00 WILL BE PROCESSED OR PAID.  Your failure to timely submit your Proof of Claim and Release will subject your claim to possible rejection and may preclude you from receiving any of the recovery in connection with the settlement of this Litigation.

To exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than August 20, 2019.  All Members of the Class who have not requested exclusion from the Class will be bound by the settlement entered in the Litigation even if they do not submit a timely Proof of Claim and Release.

Any objection to the settlement, the Plan of Allocation of settlement proceeds, or the fee and expense application must be submitted to the Court either by mailing them to the Class Action Clerk, United States District Court for the Northern District of California, Ronald V. Dellums Federal Building & United States Courthouse, 1301 Clay Street, Oakland, CA 94612, or by filing them in person at any location of the United States District Court for the Northern District of California.  Your objection must be received on or before August 20, 2019.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE, THIS SETTLEMENT, OR THIS CLAIMS PROCESS.   If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

DATED: May 14, 2019

BY ORDER OF THE COURT

Source: Faruqi & Faruqi, LLP

PRESS ONLY Media Contact: Richard W. Gonnello 212-983-9330 rgonnello@faruqilaw.com