Securities Fraud Class Action Lawsuit Filed Against Peloton Interactive, Inc.

Radnor, Pennsylvania – (Newsfile Corp. – May 22, 2021) – Law firm Kessler Topaz Meltzer & Check, LLP is reminding investors that a class action lawsuit has been filed against Peloton Interactive, Inc. (NASDAQ: PTON) for securities fraud. (“Peloton”) on behalf of those who purchased or acquired Peloton securities between September 11, 2020 and May 5, 2021 inclusive (the “Class Period”).

Lead plaintiff deadline: June 28, 2021
Website: https://www.ktmc.com/peloton-interactive-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=peloton
Contact: James Maro, Esq. (484) 270-1453
Adrienne Bell, Esq. (484) 270-1435
Toll Free (844) 887-9500

Peloton offers interactive fitness products like the Peloton Bike and the Peloton Tread + and Tread, including touchscreens that stream live and on-demand classes. Peloton also offers connected fitness subscriptions and access to all live and on-demand classes. Peloton launched the Tread + treadmill in 2018. Back then it was called “treadmill”. Peloton renamed its signature treadmill “Tread +” in September 2020.

On Wednesday, May 5, 2021, Peloton announced voluntary recalls of its treadmill and treadmill machines due to safety concerns. Peloton also advised customers who have the products to discontinue them immediately and contact Peloton for a full refund. John Foley, Peloton’s chief executive officer, said in a statement, “I want to make it clear that Peloton made a mistake in our first response to the Consumer Product Safety Commission’s request to recall the Tread +.”

The complaint alleges that throughout the classroom, the defendants made false and / or misleading statements and / or failed to disclose that: (1) Pelotons Tread + caused a serious safety threat to children and children in addition to the tragic death of a child Pets, as there have been multiple cases of injuries to both; (2) Safety was not a priority for Peloton as the defendants were aware of serious injuries and deaths as a result of the Tread +, but did not remember or suggest setting the Tread +; (3) In response to safety concerns, the Consumer Product Safety Commission (“CPSC”) stated that the Tread + poses a serious risk to public health and safety, leading to their strong recommendation for consumers with young children that the Tread + no longer be used to use. (4) The CPSC also identified a security threat to Tread + users if they lost their balance. and (5) as a result of the foregoing, Defendants’ statements about Peloton’s business, business and prospects were materially false and misleading and / or were on an unreasonable basis at all relevant times.

The story goes on

Peloton investors can attempt to be appointed as the class lead plaintiff no later than June 28, 2021 by Kessler Topaz Meltzer & Check, LLP, or other attorney, or they can choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.

Kessler Topaz Meltzer & Check, LLP, pursues class action lawsuits in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. Further information on Kessler Topaz Meltzer & Check, LLP can be found at www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

The source version of this press release can be found at https://www.newsfilecorp.com/release/84744

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