NEW YORK, May 18, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Peloton Interactive, Inc. ("Peloton" or the "Company") (NASDAQ: PTON). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Peloton and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 17, 2021, the U.S. Consumer Product Safety Commission ("CPSC" or the "Commission") issued a warning "about the danger of popular Peloton Tread+ exercise machine after multiple incidents of small children and a pet being injured beneath the machines," stating that "[t]he Commission has found that the public health and safety requires this notice to warn the public quickly of the hazard." The CPSC's warning advised that "[t]o date, CPSC is aware of 39 incidents including one death."
On this news, Peloton's stock price fell $8.46 per share, or 7.28%, to close at $107.75 per share on April 19, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com