Peloton Interactive, Inc.

Period: 09/11/2020 to 04/16/2021
Lead Plaintiff Deadline: 06/28/2021

SUMMARY OF CASE:

A securities class action has been filed against Peloton Interactive, Inc. (PTON) on behalf of all persons and entities who purchased or otherwise acquired the publicly traded securities of Peloton between September 11, 2020 through April 16, 2021. This case has been filed in the USDC – E.D.N.Y.

The Complaint alleges that 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, Peloton’s 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 the Company’s 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.