Kessler Topaz Meltzer & Check, LLP Alerts Shareholders of Securities Class Action Lawsuit Against Peloton Interactive, Inc. (PTON)

RADNOR, PA / ACCESSWIRE / June 3, 2021 / Law firm Kessler Topaz Meltzer & Check, LLP is reminding investors of Peloton Interactive, Inc. (NASDAQ: PTON) (“Peloton”) that a class action lawsuit has been filed for securities fraud on behalf of those who have traded Peloton’s securities. purchased or purchased 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, which include 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. At that time it was called “Tread”. Peloton renamed its signature treadmill to “Tread +” in September 2020.

May 2021, Peloton announced voluntary recall of its Tread + and Tread treadmill machines due to safety concerns. Peloton also advised customers who have the products to stop using them immediately and contact Peloton for a full refund. Peloton’s Chief Executive Officer John Foley said in a statement, “I want to make it clear that Peloton made a mistake in our initial response to the Consumer Product Safety Commission’s request to recall the Tread +.”

The lawsuit alleges that throughout the collection period, Defendants made false and / or misleading statements and / or failed to disclose that: (1) Peloton’s Tread +, in addition to the tragic death of a child, caused a serious safety threat to children and pets, as both suffered multiple injuries; (2) Safety was not a priority for Peloton as defendants knew but did not remember or suggest discontinuing use of the Tread + of serious injury and death from the Tread +; (3) In response to safety concerns, the 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 stop using 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 unfounded at all relevant times.

The story goes on

Peloton investors may request no later than June 28, 2021 for Kessler Topaz Meltzer & Check, LLP, or other legal counsel to appoint them as the lead class agent, or they may choose to do nothing and remain an absent member of the group. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you want to be the lead plaintiff.

Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has collected billions of dollars on behalf of institutional and private investors from the US and around the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 König-von-Preußen-Strasse
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE: Kessler Topas Meltzer & Check, LLP

View source version on accesswire.com:
https://www.accesswire.com/650200/INVESTOR-REMINDER-Kessler-Topaz-Meltzer-Check-LLP-Alerts-Shareholders-of-Securities-Class-Action-Lawsuit-Against-Peloton-Interactive-Inc-PTON

Comments are closed.