SAN FRANCISCO, May 05, 2021 (GLOBE NEWSWIRE) — Hagens Berman urges Peloton Interactive, Inc. (NASDAQ: PTON) investors with significant losses to submit your losses now. A securities fraud class action is pending and certain investors may have valuable claims.
Class Period: Sept. 11, 2020 – Apr. 16, 2021
Lead Plaintiff Deadline: June 28, 2021
Contact An Attorney Now: [email protected]
Peloton Interactive, Inc. (NASDAQ: PTON) Securities Fraud Class Action:
The complaint alleges Peloton misled investors by misrepresenting and concealing that (1) Peloton was focused on safety, (2) Peloton’s Tread+ caused a serious safety threat to children and pets as there were multiple incidents of injury to both, including death, and (3) despite knowledge of the dangers posed by Tread+, defendants did not recall or suggest halting its use.
Investors began to learn the truth on Apr. 17, 2021, when the U.S. Consumer Product Safety Commission urgently warned consumers to stop using the Tread+ after finding one death and dozens of incidents of children being sucked under the Tread+. The next day, CEO John Foley announced Peloton had no intention of recalling or to stop selling the Tread+, calling the CPSC’s warning “inaccurate and misleading.”
These events sent the price of Peloton shares crashing lower.
Most recently, on May 5, 2021, Peloton issued a recall of its Tread+ and admitted it was wrong to call the CPSC’s warning “inaccurate and misleading.”
This news sent the price of Peloton shares crashing lower again.
“We’re focused on investors’ losses proving Peloton deceived investors about the dangers posed by Tread+,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Peloton investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Peloton should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected]
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
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