LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Peloton Interactive, Inc. (“Peloton” or “the Company”) (NASDAQ: PTON) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Peloton is the subject of a press release issued by the U.S. Consumer Product Safety Commission (“CPSC”) on April 17, 2021, titled: “CPSC Warns Consumers: Stop Using the Peloton Tread+.” According to the release, the CPSC’s “Urgent Warning Comes After Agency Finds One Death and Dozens of Incidents of Children Being Sucked Beneath the Tread+ (Formerly Known as the Tread).” The agency added, “the urgent warning comes less than a month after Peloton itself released news of a child’s death by a Peloton Tread+ and CPSC’s announcement of an investigation into that incident,” and “to date, CPSC is aware of 39 incidents including one death.” Based on this news, shares of Peloton fell sharply across the next several trading sessions.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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