NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Peloton Interactive, Inc. (“Peloton” or the “Company”) PTON. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation addresses whether Peloton and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On May 11, 2023, the Consumer Product Safety Commission (“CPSC”) issued a product recall affecting approximately 2.2 million Peloton exercise bikes stating: “[t]The bicycle seat post may break during use, leading to the risk of falls and injury to the user.”
As a result of 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 recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Pomerantz was founded by the late Abraham L. Pomerantz, Dean of the Class Bar Association, and pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The company has filed numerous multimillion-dollar claims on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
[ad_2]
Source story
