LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Peloton Interactive, Inc. (“Peloton” or “the Company”) (NASDAQ: PTON) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Peloton was the subject of a product recall issued by the Consumer Product Safety Commission (“CPSC”) on May 11, 2023. The product recall impacted 2.2 million of the Company’s exercise bikes. The recall states, “the bike’s seat post assembly can break during use, posing fall and injury hazards to the user.” Based on this news, shares of Peloton fell by 8.9% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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