RADNOR, Pa., April 23, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Peloton Interactive, Inc. (“Peloton”) (NASDAQ: PTON).
Peloton provides interactive fitness products in North America and internationally. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread+, which include a touchscreen that streams live and on-demand classes.
On Saturday, April 17, 2021, the U.S. Consumer Product Safety Commission (“CPSC”) issued a press release entitled “CPSC Warns Consumers: Stop Using the Peloton Tread+”. The press release stated that the “Urgent Warning Comes After Agency Finds One Death and Dozens of Incidents of Children Being Sucked Beneath the Tread+ (Formerly Known as the Tread)”. The press release further stated that “[t]he urgent warning comes less than a month after Peloton itself released news of a child’s death by a Peloton Tread+ and CPSC’s announcement of an investigation into that incident[,]” and “[t]o date, CPSC is aware of 39 incidents including one death.”
Following this news, Peloton’s stock price fell from a close of $116.21 per share on April 16, 2021, to a close of $107.75 per share on April 19, 2021, the next trading day.
If you are a Peloton investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or please visit the following link to fill out our online form https://www.ktmc.com/peloton-investigation?utm_source=PR&utm_medium=Link&utm_campaign=peleton.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500
info@ktmc.com