PTON.US
id: 666, Created by Stan Vick, Scout
Peloton (PTON) $13.95M Investor Settlement
How it works?
- Company agreed to settle with investors to avoid further litigation
- We prepare documents and claim payout for you
E.D. New York
Court1:21-cv-02369
Case number11 Sept 2020
Class period Start05 May 2021
Class period EndPeloton (PTON) agreed to a $13.95M Settlement with Investors to end claims over hiding Tread+ safety issues which led to multiple incidents.
- Peloton's Tread+ had caused a serious safety threat to children and pets, as multiple incidents of injury had occurred in addition to the tragic death of a child;
- $PTON did not prioritize safety since it knew about serious injuries and deaths from the Tread+ but did not recall or suggest a halt of its use;
- The Tread+ was declared a serious risk to public health and safety by the U.S. Consumer Product Safety Commission due to safety concerns, leading to an urgent recommendation for consumers with small children to cease using it;
- he CPSC also found that Tread+ users faced safety threats if they lost balance.
Those who traded $PTON securities, including stocks, call, and put options, between September 11, 2020, and May 5, 2021, inclusive, and were damaged thereby, may be entitled to a payment from a class action settlement.
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.029
Filing date
29 April 2021
Lead Plaintiff Deadline
28 June 2021
Plaintiffs
Richard Neswick
Attorneys
Faruqi & Faruqi LLP (New York, NY)
Defendants
John Foley, Jill Woodworth, Hisao Kushi, Brad Olson
Judge
Hon. Carol Bagley Amon
Administrator
EPIQ
Settlement agreement date
2023-04-17
Trades matching type
FIFO
+$13,950,000
Total Settlement Amount