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PTON.US
id: 758

Peloton (PTON) "Mass Bikes Recall" Case

E.D. New York
Court
23-cv-04279
Case number
10 May 2022
Class period Start
10 May 2023
Class period End
08 Aug 2023
Lead Plaintiff motion deadline
  • 2.2 million Peloton exercise bikes were recalled.
  • $PTON fell 8.9% and lost $225M of its market cap.
  • Investors suspect Peloton & its Accountables of misleading and failing to disclose which led to investment losses.
On May 11, 2023, the Consumer Product Safety Commission (CPSC) issued a product recall affecting roughly 2.2 million Peloton exercise bikes, stating that “the bike’s seat post assembly can break during use, posing fall and injury hazards to the user.”

On this news, $PTON fell 8.9% and lost $225 million of its market capitalization, damaging shareholders.

Taking this event into account, Investors have reasons to suspect that Peloton and its Accountables of misleading and failing to disclose, which consequently led to serious investment losses.
Alleged Offence
Misleading Statements
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11 May 2023
Filing date
08 June 2023
Lead Plaintiff Deadline
08 August 2023
Collecting participants…

Peloton Interactive Inc

Peloton Interactive, Inc. operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand ...

    Ticker
    PTON.US
    ISIN
    US70614W1009
    CIK
    1062441
    Sector
    Consumer Cyclical
    Industry
    Leisure
    Country
    USA
    Address
    441 Ninth Avenue, New York, NY, United States, 10001