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New York, New York--(Newsfile Corp. - May 11, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders Peloton Interactive, Inc. (NASDAQ: PTON).
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Affected shareholders purchased shares of PTON between September 11, 2020 and April 16, 2021
Shareholders interested in representing the class of wronged shareholders have until June 28, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Peloton Interactive, Inc. issued materially 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 that the Tread+ posed a serious risk to public health and safety and urgently recommended that consumers with small children cease using the Tread+; (4) the CPSC also found a safety threat to Tread+ users if they lost their balance; and (5) as a result of the foregoing, defendants' statements about Peloton's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83597