RM LAW Announces Class Action Lawsuit Against Peloton Interactive, Inc.

BERWYN, Pa., May 10, 2021 /PRNewswire/ -- RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Peloton Interactive, Inc. ("Peloton" or the "Company") (NASDAQ: PTON) securities during the period from September 11, 2020 through April 16, 2021, inclusive (the "Class Period").

Peloton shareholders may, no later than June 28, 2021, move the Court for appointment as a lead plaintiff of the Class.  If you purchased shares of Peloton and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

According to the Complaint, the Company made false and misleading statements to the market. Peloton's Tread+ product was a serious safety risk to small children and pets, resulting in multiple incidents of injury to both including the tragic death of one child. The Company knew about the safety risk but did not treat safety as a priority, failing to recall or suggest a usage halt of the Tread+. The U.S. Consumer Product Safety Commission ("CPSC") announced that the Tread+ represented a serious risk to public safety and urged consumers with small children to stop using the product. The CPSC also found that the Tread+ represented a safety risk to consumers that lost their balance. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Peloton, investors suffered damages.

If you are a member of the class, you may, no later than June 28, 2021, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.  For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at [email protected] or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here. 

RM LAW, P.C. is a national shareholder litigation firm.  RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

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SOURCE RM LAW, P.C.