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Peloton Interactive, Inc.

Case Details

Class Period: September 20, 2020 - April 16, 2021
Date Filed: April 29, 2021
Case Number: 1:21cv02369
Jurisdiction: New York Eastern District Court
icon-casetype Case Type: Securities Case
Days Left to
Seek Plaintiff:
46

Case Summary

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) in addition to the tragic death of a child, Pelotons Tread+ had caused a serious safety threat to children and pets as there were multiple incidents of injury to both; (2) safety was not a priority to Peloton as defendants were aware of serious injuries and death resulting from the Tread+ yet did not recall or suggest a halt of the use of the Tread+; (3) as a result of the safety concerns, the U.S. Consumer Product Safety Commission (CPSC) declared the Tread+ posed a serious risk to public health and safety resulting in its urgent recommendation for consumers with small children to cease using the Tread+; (4) the CPSC also found a safety threat to Tread+ users if they lost their balance; and (5) as a result of the foregoing, defendants statements about Pelotons business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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Complaint