GoPro Noncash Settlement Over Drone Rollout Gets Court Approval

A federal judge in Oakland, Calif., has approved a noncash settlement of claims that members of GoPro Inc.'s board and management sold stock at inflated prices while hiding a major battery defect involving its highly anticipated “Karma” drone line.

Judge Claudia Wilken signed off late Wednesday on the agreement, which resolves litigation in three courts with oversight reforms including beefed up policies against insider trading, a minimum number of annual board meetings, and new compliance responsibilities for GoPro’s top in-house lawyer.

Wilken also approved $400,000 in fees for the plaintiffs’ attorneys, saying the request was modest compared to the $2.5 ...