GoPro's 'Rosy' Forecasts Were Misleading, Investors Claim

Law360 (January 2, 2019, 5:10 PM EST) -- An investor trust has filed a derivative suit against officers of the camera technology company GoPro Inc. claiming they released false and misleading comments about the revenue potential of some products and engaged in unlawful insider trading to sell their own stock at inflated prices.

In a complaint made public Monday, the David Mays and Janice Alley Living Trust contends that GoPro founder and CEO Nicholas Woodman and 11 former or current company officers issued “materially false and misleading statements and made material omissions regarding the market for GoPro’s products, and sales thereof.”

The officers failed to disclose problems with product...

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