{"id":499782,"date":"2021-06-01T06:08:42","date_gmt":"2021-06-01T10:08:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\/"},"modified":"2021-06-01T06:08:42","modified_gmt":"2021-06-01T10:08:42","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\/","title":{"rendered":"SHAREHOLDER ALERT:  Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Peloton Interactive, Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; PTON"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">June 1, 2021<\/span> \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Peloton Interactive, Inc. (&#8220;Peloton&#8221; or the &#8220;Company&#8221;)(NASDAQ: PTON) and certain of its officers.\u00a0 The class action, filed in <span class=\"xn-location\">the United States<\/span> District Court for the Eastern District of <span class=\"xn-location\">New York<\/span>, and docketed under 21-cv-02925, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Peloton between <span class=\"xn-chron\">September 11, 2020<\/span> and <span class=\"xn-chron\">May 5, 2021<\/span>, inclusive (the &#8220;Class Period&#8221;).\u00a0 Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1486339\/Pomerantz_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1486339\/Pomerantz_Logo.jpg\" title=\"Fighting for victims of securities fraud for more than 85 years (PRNewsfoto\/Pomerantz LLP)\" alt=\"Fighting for victims of securities fraud for more than 85 years (PRNewsfoto\/Pomerantz LLP)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>If you are a shareholder who purchased Peloton securities during the Class Period, you have until <span class=\"xn-chron\">June 28, 2021<\/span> to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3181398-8&amp;h=4182822710&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener\">www.pomerantzlaw.com<\/a>. \u00a0 To discuss this action, contact <span class=\"xn-person\">Robert S. Willoughby<\/span> at <a target=\"_blank\" href=\"mailto:newaction@pomlaw.com\" rel=\"nofollow noopener\">newaction@pomlaw.com<\/a>\u00a0or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0 <\/p>\n<p class=\"prntac\">\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3181398-8&amp;h=3552136767&amp;u=https%3A%2F%2Fpomlaw.com%2Flearn-more-form%3Fcompany%3DPTON&amp;a=%5BClick+here+for+information+about+joining+the+class+action%5D\" rel=\"nofollow noopener\">[Click here for information about joining the class action]<\/a>\n      <\/p>\n<p>Peloton provides interactive fitness products such as the Peloton Bike and the Peloton Tread+ and Tread, which include touchscreens that stream live and on-demand classes.\u00a0 Peloton also provides connected fitness subscriptions and access to live and on-demand classes.\u00a0 <\/p>\n<p>The complaint alleges that, throughout the Class Period, Defendants made\u00a0materially false and misleading statements regarding the Company&#8217;s business, operations, and compliance policies.\u00a0 Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) in addition to the tragic death of a child, Peloton&#8217;s Tread+ had caused a serious safety threat to children and pets as there were multiple incidents of injury to both; (ii) 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+; (iii) as a result of the safety concerns, the U.S. Consumer Product Safety Commission (&#8220;CPSC&#8221;) 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+; (iv) the CPSC also found a safety threat to Tread+ users if they lost their balance; (v) Tread featured similar safety concerns; (vi) merely reinforcing safety warnings would be insufficient; (vii) the CPSC and Peloton would issue a recall of the Tread+ and Tread; (viii) issues with the Tread+ and Tread were not patchable via software updates; (ix) Defendants were not fully cooperating with the CPSC; (x) as opposed to Defendants&#8217; statements, CPSC statements were not misleading or inaccurate; and (xi) as a result of the foregoing, Defendants&#8217; statements about Peloton&#8217;s business, operations, and prospects were materially false and misleading and\/or lacked a reasonable basis at all relevant times.<\/p>\n<p>On <span class=\"xn-chron\">April 17, 2021<\/span>, a day the market was closed, the CPSC issued a press release entitled &#8220;CPSC Warns Consumers: Stop Using the Peloton Tread+&#8221; alerting the public to dangers, including death, associated with the Peloton Tread+.<\/p>\n<p>That same day, Peloton issued a press release entitled &#8220;PELOTON REFUTES CONSUMER PRODUCT SAFETY COMMISSION CLAIMS: CPSC PUBLISHES MISLEADING, INACCURATE BULLETIN ON TREAD+ PRODUCT SAFETY&#8221; which attempted to rebut the CPSC&#8217;s warnings.<\/p>\n<p>Following these disclosures, Peloton&#8217;s stock price fell <span class=\"xn-money\">$16.28<\/span> per share, or 14%, over the next three trading days to close at <span class=\"xn-money\">$99.93<\/span> per share on <span class=\"xn-chron\">April 21, 2021<\/span>, damaging investors.<\/p>\n<p>Then, on <span class=\"xn-chron\">May 5, 2021<\/span>, during market hours, the CPSC issued a statement entitled &#8220;Statement of Acting Chairman <span class=\"xn-person\">Robert Adler<\/span> on the Recall of the Peloton Tread + and Tread&#8221; which announced that the CPSC and Peloton had come to an agreement to protect users of the Peloton Tread+ and Tread products, which required Peloton to immediately stop selling and distributing both the Tread+ and Tread products in <span class=\"xn-location\">the United States<\/span> and refund the full purchase price to consumers who wish to return their treadmills.<\/p>\n<p>That same day, Peloton posted an article entitled &#8220;CPSC and Peloton Announce: Recall of Tread+ Treadmills After One Child Death and 70 Incidents; Recall of Tread Treadmills Due to Risk of Injury&#8221; to its website, which, among other things, acknowledged that Peloton made a mistake in its initial response to the CPSC&#8217;s request that Defendants recall the Tread+ and should have engaged more productively with the CPSC from the outset.<\/p>\n<p>Following these disclosures, Peloton&#8217;s stock price fell <span class=\"xn-money\">$14.08<\/span> per share, or 14.56%, to close at <span class=\"xn-money\">$82.62<\/span> per share on <span class=\"xn-chron\">May 5, 2021<\/span>, further damaging investors.<\/p>\n<p>The Pomerantz Firm, with offices in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Chicago<\/span>, <span class=\"xn-location\">Los Angeles<\/span>, and <span class=\"xn-location\">Paris<\/span> is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late <span class=\"xn-person\">Abraham L. Pomerantz<\/span>, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3181398-8&amp;h=4182822710&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener\">www.pomerantzlaw.com<\/a><\/p>\n<p>\n        <b>CONTACT:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Robert S. Willoughby<\/span><br \/>\n        <br \/>Pomerantz LLP<br \/><a target=\"_blank\" href=\"mailto:rswilloughby@pomlaw.com\" rel=\"nofollow noopener\">rswilloughby@pomlaw.com<\/a>\u00a0<br \/>888-476-6529 ext. 7980<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC95940&amp;sd=2021-06-01\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/shareholder-alert--pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline--pton-301302672.html\">http:\/\/www.prnewswire.com\/news-releases\/shareholder-alert&#8211;pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline&#8211;pton-301302672.html<\/a><\/p>\n<p>SOURCE  Pomerantz LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC95940&amp;Transmission_Id=202106010603PR_NEWS_USPR_____DC95940&amp;DateId=20210601\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, June 1, 2021 \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Peloton Interactive, Inc. (&#8220;Peloton&#8221; or the &#8220;Company&#8221;)(NASDAQ: PTON) and certain of its officers.\u00a0 The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02925, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Peloton between September 11, 2020 and May 5, 2021, inclusive (the &#8220;Class Period&#8221;).\u00a0 Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). If you &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SHAREHOLDER ALERT:  Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Peloton Interactive, Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; PTON&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-499782","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Peloton Interactive, Inc. of Class Action Lawsuit and Upcoming Deadline - PTON - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Peloton Interactive, Inc. of Class Action Lawsuit and Upcoming Deadline - PTON - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, June 1, 2021 \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Peloton Interactive, Inc. (&#8220;Peloton&#8221; or the &#8220;Company&#8221;)(NASDAQ: PTON) and certain of its officers.\u00a0 The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02925, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Peloton between September 11, 2020 and May 5, 2021, inclusive (the &#8220;Class Period&#8221;).\u00a0 Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). If you &hellip; Continue reading &quot;SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Peloton Interactive, Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; PTON&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-01T10:08:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1486339\/Pomerantz_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-peloton-interactive-inc-of-class-action-lawsuit-and-upcoming-deadline-pton\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Peloton Interactive, Inc. of Class Action Lawsuit and Upcoming Deadline &#8211; 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Pomerantz LLP announces that a class action lawsuit has been filed against Peloton Interactive, Inc. (&#8220;Peloton&#8221; or the &#8220;Company&#8221;)(NASDAQ: PTON) and certain of its officers.\u00a0 The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02925, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired the publicly traded securities of Peloton between September 11, 2020 and May 5, 2021, inclusive (the &#8220;Class Period&#8221;).\u00a0 Plaintiff seeks to recover compensable damages caused by Defendants&#8217; violations of the federal securities laws under the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;). 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