NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 28, 2021 to file lead plaintiff applications in a securities class action lawsuit against Peloton Interactive, Inc. (NasdaqGS: PTON), if they purchased the Company’s securities between September 11, 2020 and May 5, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased securities of Peloton and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pton/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 28, 2021.
About the Lawsuit
Peloton and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 5, 2021, the Company disclosed two separate recalls of its Tread+ and Tread treadmills following numerous reports of injury, advising that it had stopped sales and distribution and that “[c]onsumers who have purchased either treadmill should immediately stop using it and contact Peloton for a full refund or other qualified remedy.”
On this news, shares of Peloton plummeted 14%, or $14.08 per share, to close at $82.62 per share on May 5, 2021.
The case is Wilson v. Peloton Interactive, Inc., et al., 21-cv-03299.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.