Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Peloton Interactive, Inc.
NEW YORK, NY / ACCESSWIRE / June 24, 2021 / Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file lead plaintiffs in a class action lawsuit filed on behalf of investors who own the securities of Peloton Interactive, Inc. (“Peloton” or the “Company “) (NASDAQ: PTON) from September 11, 2020 through May 5, 2021 (the” Class Period “). The lawsuit filed in the US District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
If you Have purchased Peloton securities and / or wish to discuss your statutory rights and options Please visit the class action lawsuit against Peloton shareholders or contact Joseph R. Seidman, Jr (877) 779-1414 or Seidman@bernlieb.com
The complaint alleges that during the class action period, defendants made false and / or misleading information and / or failed to disclose: (1) In addition to the tragic death of a child, Peoloton’s Tread + caused a serious safety threat to children and pets as it both suffered multiple injuries; (2) Safety was not a priority for Peloton as Defendants knew of but did not remember serious injuries and deaths from the Tread + or suggested discontinuing use of the Tread +; (3) In response to safety concerns, the US Consumer Product Safety Commission (“CPSC”) stated that Tread + poses a serious risk to public health and safety, leading to its strong recommendation that consumers with young children discontinue use of the Tread +; (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 regarding Peloton’s business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.
On April 17, 2021, a day the market was closed, the CPSC issued a press release entitled “CPSC Warns Consumers: Stop Using the Peloton Tread +” to warn the public of dangers, including death, in the In connection with the Peloton Tread +.
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Following this news, Peloton’s share price fell $ 16.28 per share, or more than 14%, over the next three trading days, closing at $ 99.93 per share on April 21, 2021, hurting investors.
On May 5, 2021, the CPSC and Peloton each issued statements announcing that they had agreed to voluntarily recall the Peloton Tread + and Tread treadmills. As a result of this news, Peloton’s share price fell $ 14.08 per share, or 14%, to close at $ 82.62 per share on May 5, 2021, causing further harm to investors.
If you want to serve as the lead plaintiff, you must call the court by June 28, 2021 at the latest. A lead plaintiff is a representative party who acts on behalf of other class members in the conduct of the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.
If you Have purchased Peloton securities and / or wish to discuss your statutory rights and options please visit https://www.bernlieb.com/cases/pelotoninteractiveinc-pton-shareholder-class-action-lawsuit-fraud-stock-395/apply/ or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or Seidman@bernlieb.com
Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been included on the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.
Joseph R. Seidman Jr.
Bernstein Liebhard LLP
SOURCE: Bernstein Liebhard LLP
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