GoPro Shareholders Wave White Flag In Stock Drop Suit

By Jack Newsham (June 19, 2017, 5:51 PM EDT) -- A would-be class of investors in action camera maker GoPro Inc. who accused the company of puffing up its stock price by lying about new product sales agreed to drop their suit against the company on Friday, a few weeks after a California federal judge found that their claims lacked teeth.

The shareholders indicated last month that they would file a new complaint after U.S. District Judge Jon S. Tigar found that they hadn't properly accused GoPro or its executives of making false statements or having knowledge of their wrongdoing, two critical elements of a securities fraud case. But they agreed...

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