That won't stop the vultures :-(
SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Directors of GoPro, Inc.
prnews
NEW YORK, Oct. 2, 2014 /PRNewswire/ -- Levi & Korsinsky, LLP is investigating GoPro, Inc. ("GoPro" or the "Company") (Nasdaq: GPRO) in connection with possible breaches of fiduciary duty by certain insiders.
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On October 2, 2014 GoPro Founders Nicholas and Jill Woodman announced that on the following day they planned to "gift" approximately 5.8 million shares from their stake in GoPro to the Nicholas + Jill Woodman Foundation, a charitable organization. The Woodmans reached a deal with JPMorgan, the lead book-running manager of GoPro's June 2014 Initial Public Offering, to release the charitable organization from the lock-up arrangement effective Friday. GoPro's regulatory filings prior to the IPO state that the lock-up restriction provides that major shareholders (like the Woodmans) can only transfer shares under particular circumstances?including the making of a "bona fide gift." However, any recipient of the gifted shares must be "bound by the terms of the lock-up agreement."
If you own common stock in GoPro and wish to obtain additional information, please contact Eduard Korsinsky, Esq. either via email at ek@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit zlk.9nl.com. |
