Class Action Lawsuits Filed Against Peloton Interactive, Inc.

Multiple class action lawsuits have been filed against Peloton Interactive, Inc. by shareholders who purchased or acquired Peloton securities between May 2022 and May 2023. The lawsuits allege that Peloton made false and misleading statements about the safety of its Peloton Bikes, which were prone to breaking or detaching during use. The U.S. Consumer Product Safety Commission issued a product recall affecting approximately 2.2 million Peloton Bikes on May 11, 2023, causing Peloton's stock price to fall 8.9%.