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PTON.US
id: 666

Peloton (PTON) $13.95M Investor Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
E.D. New York
Court
1:21-cv-02369
Case number
11 Sept 2020
Class period Start
05 May 2021
Class period End
21 May 2024
Claim deadline
Peloton (PTON) agreed to a $13.95M Settlement with Investors to end claims over hiding Tread+ safety issues which led to multiple incidents.

Case Details:

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.

The CPSC also found that Tread+ users faced safety threats if they lost balance.
Case Status
Accepting Late Claims
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
Cash Settlement Amount

Frequently Asked Questions

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