SAN DIEGO, June 29, 2021 (GLOBE NEWSWIRE) — Johnson Fistel, LLP is investigating potential claims on behalf of Peloton Interactive, Inc. (“Peloton” or the “Company”) (NASDAQ: PTON) against certain of its current and former officers and directors.
Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Peloton from September 11, 2020 and May 5, 2021 (the “Class Period”).
According to the filed complaint, during the class period, Defendants issued materially false and 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 that the Tread+ posed a serious risk to public health and safety and urgently recommended that consumers with small children 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 Peloton’s business, operations, and prospects, were materially false and misleading and lacked a reasonable basis at all relevant times.
If you are a current, long-term shareholder of Peloton, holding shares before September 11, 2020, you may have standing to hold Peloton harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
If you
are interested in learning more about the investigation, please contact lead analyst Jim Baker (
[email protected]
) at 619-814-4471. If emailing, please include a phone number.
Additionally, if you are a current, long-term shareholder of Peloton, holding shares before September 11, 2020
,
you can
[Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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