Thomas J. McKenna, Esq. Announces A Class Action Lawsuit Has Been Filed Against Peloton Interactive, Inc. (PTON)

New York, New York--(Newsfile Corp. - May 5, 2021) - Thomas J. McKenna, Esq. announces that a class action lawsuit has been filed against Peloton Interactive, Inc. ("Peloton" or the "Company") (NASDAQ: PTON) in the United States District Court for the Eastern District of New York on behalf of those who purchased or acquired the securities of Peloton between September 11, 2020 and April 16, 2021, inclusive (the "Class Period"). The lawsuit seeks to recover damages for investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) in addition to the tragic death of a child, Peloton's Tread+ had caused a serious safety threat to children and pets as there were multiple incidents of injury to both; (2) safety was not a priority to Peloton as Defendants were aware of serious injuries and death resulting from the Tread+ yet did not recall or suggest a halt of the use of the Tread+; (3) as a result of the safety concerns, the U.S. Consumer Product Safety Commission ("CPSC") declared the Tread+ posed a serious risk to public health and safety resulting in its urgent recommendation for consumers with small children to cease using the Tread+; (4) the CPSC also found a safety threat to Tread+ users if they lost balance; and (5) Defendants' statements about Peloton's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Peloton during the Class Period should know there is a June 28, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. at (914) 552-2786, or via e-mail at tjmlaw@gmail.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83070