Class Action Lawsuits Filed Against Peloton Interactive, Inc.

Multiple law firms have announced class action lawsuits against Peloton Interactive, Inc. for making false and misleading statements about the safety of its Peloton Bikes. The lawsuits allege that the company overstated its efforts to enhance product safety and downplayed the need for future product recall expenses. Peloton's stock price fell significantly after a product recall was announced by the U.S. Consumer Product Safety Commission.