January 10, 2018
In what is surely a first, Bass Pro CEO Johnny Morris has challenged the top executives and shareholders who benefitted from the buyout by Bass Pro to contribute to a severance fund being set up for employees who will be laid off by the merger.
The retailer argues that the need to replace the onerous DIP facility of State Bank is critical to preserving the business and its 1,000 jobs and offers its own analysis that shows there is over $22 million in inventory cushion to protect Comvest’s junior position.
The shareholder class action was originally filed in Jan. 2016 in U.S. District Court in San Francisco, accusing Fitbit management and the company’s IPO underwriters of making materially false and misleading statements regarding the accuracy of the heart rate monitoring technology used in its fitness bands.
Following Monday’s surprise announcement that GoPro is shuttering its Karma drone division and would badly miss Q4 sales and profit estimates, The Rosen Law Firm and lead plaintiff Jong Min Park filed a shareholder class action against the company.
Dec. revenues rose 4% to $794,591,000 against $760,851,000, bringing full-year sales to $9,120,083,000, up 8% compared to $8,487,726,000 in 2016.