The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Peloton Interactive, Inc. (NASDAQ: PTON) securities between September 11, 2020 and April 16, 2021.
According to the Peloton lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) in addition to the tragic death of a child, Peloton’s Tread+ had caused a serious safety threat to children and pets as there were multiple incidents of injury to both; (2) 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+; (3) as a result of the safety concerns, the U.S. Consumer Product Safety Commission (“CPSC”) declared that the Tread+ posed a serious risk to public health and safety and urgently recommended that consumers with small children cease using the Tread+; (4) the CPSC also found a safety threat to Tread+ users if they lost their balance; and (5) as a result of the foregoing, defendants’ statements about Peloton’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Peloton you have until June 28, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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