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PTON.US
id: 252
On August 29, 2022, Peloton informed securities regulators that it delays its annual report filing as it needs more time to complete the accounting and disclosures concerning impairment charges.
According to Company, the charges resulted from Peloton’s plan to exit its field operations warehouses, a move announced earlier this month as part of a broader cost-cutting plan.
Peloton added that it would assist in evaluating the internal controls over financial reporting on these developments and for its accountant.
On this news, the price of the Company's stocks declined by 8.5% on August 30, 2022.
These corporate events raise suspicions of proper governance, financial control, and information disclosure practices in the Company.
Case Status
Attorney Investigation
Alleged Offence
Mismanagement,
Financial Misrepresentation,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08/29/2022