Lawsuit Alert: Investors who lost money with Peloton Interactive, Inc. (NASDAQ: PTON) should contact the Shareholders Foundation

An investor, who purchased shares of Peloton Interactive, Inc. (NASDAQ: PTON), filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Peloton Interactive, Inc. in connection with certain allegedly false and misleading statements made between May 10, 2022 and May 10, 2023.

If you purchased a significant amount of shares of Peloton Interactive, Inc. (NASDAQ: PTON) between May 10, 2022 and May 10, 2023, and / or if you purchased any NASDAQ: PTON shares prior to May 2022 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: August 8, 2023. NASDAQ: PTON investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based Peloton Interactive, Inc. provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. Peloton Interactive, Inc markets and sells its Peloton Bikes nationwide through Peloton and Dick's Sporting Goods stores, as well as online at Onepeloton.com, Amazon.com, and Dicksportinggoods.com.
Peloton Interactive, Inc went public in late September 2019. Peloton Interactive, Inc sold 40 million shares at $29 per share in its initial public offering, which raised $1.16 billion. However, since the IPO, shares of Peloton Interactive, Inc (NASDAQ: PTON) declined to $21.14 per share on October 3, 2019.

In 2021, Peloton Interactive, Inc was mired in controversy after the U.S. Consumer Product Safety Commission ("CPSC") issued an urgent warning to stop using the Company's treadmill products because of risks of injury and death posed to children and pets in the vicinity of those products. At first, Peloton Interactive, Inc vehemently denied the CPSC's claims, but was ultimately forced to recall the treadmill products while publicly apologizing for attempting to refute the agency's warnings. Peloton Interactive, Inc has since assured investors, consumers, and the overall market that the Company has worked cooperatively with the CPSC to further enhance the safety of its products, while signaling a decrease in the need to book additional reserves for potential future product recall expenses, in an attempt to regain the public's trust and repair its damaged brand and reputation.

On May 11, 2023, the CPSC issued a product recall affecting roughly 2.2 million Peloton Bikes, stating that "[t]he bike's seat post assembly can break during use, posing fall and injury hazards to the user."

Shares of Peloton Interactive, Inc. (NASDAQ: PTON) declined from $12.02 per share on April 04, 2023, to $6.62 per share on May 12, 2023.

The plaintiff claims that between May 10, 2022 and May 10, 2023, the Defendants made false and/or misleading statements and/or failed to disclose that the seat posts for certain of the Company's Peloton Bikes were prone to break or otherwise detach during use, rendering them unsafe for users, that as a result, the Company was likely to recall millions of Peloton Bikes, that accordingly, Peloton overstated its efforts to enhance the safety of its products, understated its estimated future returns, and downplayed the Company's need to book additional reserves for future product recall expenses, that all the foregoing, once revealed, was likely to negatively impact the Company's business and financial results and reputation, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Peloton Interactive, Inc. (NASDAQ: PTON) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.