Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Peloton Interactive, Inc. | News
RADNOR, Pa., May 27, 2021 / PRNewswire / – The law firm of Kessler Topaz Meltzer & Check, LLP is reminding investors to Peloton Interactive, Inc. (NASDAQ: PTON) (“Peloton”) that a class action lawsuit has been filed for securities fraud on behalf of those who have bought or purchased an acquired property Peloton Securities between September 11, 2020 and May 5, 2021including (the “Class Period”).
Deadline of the main plaintiff: June 28, 2021
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 to September 2020 to “Tread +”.
On Wednesday May 5, 2021Peloton announced voluntary recalls of its treadmill and treadmill machines due to safety concerns. Peloton also advised customers who have the products immediately to stop using them and contact Peloton for a full refund. Pelotons Chairman of the Board, John Foley In a statement, he said, “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 unfounded at all relevant times.
Peloton Investors can not later than June 28, 2021, attempt to be appointed as the class lead plaintiff by Kessler Topaz Meltzer & Check, LLP, or other attorney, or 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 collected billions of dollars on behalf of institutional and individual investors The United States and all over 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. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
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)
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SOURCE Kessler Topaz Meltzer & Check, LLP