NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Peloton Interactive, Inc. (NASDAQ: PTON) resulting from allegations that Peloton may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Peloton securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2079.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On 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 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 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.”
On this news, Peloton’s share price fell sharply during intraday trading on April 19, 2021, the next trading day, damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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