GoPro Inc. alienated investors and perhaps a few retailers this week in two unrelated announcements that prompted concerns that co-founders Nick and Jill Woodman were flooding the market with shares and product three months after taking the company public.

On Thursday, investors sent GPRO’s high-flying stock down 14 percent after learning J.P. Morgan Securities LLC cleared the way for a foundation established by the Woodmans to sell  5.82 million shares equal to about 28 percent of the company’s public float. J.P. Morgan, which led GPRO’s initial public offering of  20.5 million shares of Class A common stock June 26, agreed to release the The Jill + Nicholas Woodman Foundation from a lock-up restriction prohibiting GoPro’s major shareholders from selling shares to the public until just before Christmas.
GoPro’s regulatory filings before the IPO  stipulated that  recipients of gifted shares were subject to the lock-up restrictions, which are designed to protect IPO investors.

“JPMorgans assent to release the charity from the lock-up appears to circumvent that provision,” argued Newman Ferrara LLP, one of several law firms specializing in securities litigation that began soliciting clients following the announcement.

GoPro shares had fallen nearly 13 percent from $91 per share to $79.13 per share on heavy trading volume within hours of the announcement, before recovering about half that ground to close at $85.46 Thursday. The stock rebounded further on Friday on favorable economics news, reports that the Foundation had no plans to sell it s share before the lock up period expired and GoPro’s announcement that it was tripling its presence in Best Buy.

GoPro announced it had begun rolling out a new display for its next-generation Hero4 video camera to 500 Best Buy stores. The six-foot tall display includes larger monitors that will showcase a variety of GoPro videos and are exclusive to Best Buy.

“This expansion will provide GoPro with a significant increase in shelf space from one of our biggest retail partners in North America,” said GoPro SVP of Intergalactic Sales, Jonathan Harris.

Some of those gains will come from the sporting goods retailers that fostered the brand in its early days.  Either way, GPRO’s IPO investors have little room to complain. While the stock closed at nearly $87 a share Friday, or about 7 percent  off its Sept. 30 high, it’s still up  more than 2.7 times since its IPO debut.