Mergers & Antitrust Law News

GoPro Suit Over Bumpy Drone Rollout Heads to Delaware High Court

May 11, 2020, 9:34 PM

GoPro Inc. investors will ask Delaware’s top court to revive their lawsuit blaming the camera maker’s board for a 12% stock drop in response to news that its 2016 revenue projections hid the negative impact of a rocky product launch.

Vice Chancellor Joseph R. Slights III dismissed the consolidated case last month, finding that the shareholders had no excuse for failing to demand an internal investigation first—a prerequisite to bringing a derivative suit in the Chancery Court.

Slights rejected the plaintiffs’ claim that board conflicts of interest stemming from the directors’ personal legal exposure would have made a pre-suit...

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