IN RE GOPRO, INC. STOCKHOLDER DERIVATIVE LITIGATION

Consolidated C.A. No. 2018-0784-JRS.

IN RE GOPRO, INC. STOCKHOLDER DERIVATIVE LITIGATION.

Court of Chancery of Delaware.

Decided: April 28, 2020.


Attorney(s) appearing for the Case

Seth D. Rigrodsky, Esquire , Brian D. Long Esquire , and Gina M. Serra Esquire , of Rigrodsky & Long, P.A., Wilmington, Delaware and Melinda A. Nicholson Esquire , and Nicolas Kravitz Esquire , of Kahn Swick & Foti, LLC, New Orleans, Louisiana, Attorneys for Lead Plaintiffs Chaile Steinberg, Steve Noury, Barbara Silberfeld and Richard Silberfeld.

R. Judson Scaggs, Jr., Esquire , Susan W. Waesco Esquire , and Riley T. Svikhart Esquire , of Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware and Susan S. Muck, Esquire , Catherine D. Kevane Esquire , and Marie C. Bafus Esquire , of Fenwick & West LLP, San Francisco, California, Attorneys for Defendants Nicholas Woodman, Brian McGee, Anthony Bates, Charles "CJ" Prober, Edward Gilhuly, Kenneth Goldman, Peter Gotcher, Alexander Lurie, Susan Lyne, Michael Marks, Frederic Welts and Lauren Zalaznick, and Nominal Defendant GoPro, Inc.


MEMORANDUM OPINION

In early 2016, the camera manufacturer, GoPro, Inc. ("GoPro" or the "Company"), planned to roll out two new products to the market, a drone that would house state of the art GoPro cameras and the latest iteration of its signature wearable camera. GoPro provided revenue guidance for 2016 based...

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