NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Peloton Interactive, Inc. (“Peloton” or the “Company”) (NASDAQ: PTON). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Peloton and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 11, 2023, the Consumer Product Safety Commission (“CPSC”) issued a product recall affecting roughly 2.2 million Peloton exercise bikes, stating that “[t]he bike’s seat post assembly can break during use, posing fall and injury hazards to the user.”
On this news, Peloton’s stock price fell $0.67 per share, or 8.9%, to close at $6.86 per share on May 11, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980