The Delaware Supreme Court, in In re GoPro, Inc. Stockholder Derivative Litigation, C.A. No. 2018-0784-JRS (consol.), memo. op. (Del. Ch. Apr. 28, 2020), dismissed claims alleging that directors acquiesced to management’s misleading disclosures, finding that they were more appropriately viewed as failure of oversight claims, but finds no substantial threat of liability from either perspective.
NEW: $$$ Bloomberg Law discusses the decision in GoPro Suit Over Bumpy Drone Rollout Heads to Delaware High Court.
Frank Reynolds discusses the decision in Court of Chancery says GoPro directors had no duty to doubt managers’ soaring drone camera predictions.
Shearman & Sterling discuss the decision in Delaware Court of Chancery Grants Motion to Dismiss Finding Demand Was Not Excused In Connection With Alleged Failure to Update Revenue Guidance.
Stinson discusses the decision in Court Dismisses Claim Against Board for Optimistic Earnings Guidance.
$$$ Law360 discusses the decision in Chancery Grounds GoPro Investor Suit Over Drone Woes.