NEW YORK, June 23, 2023 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Peloton Interactive, Inc. (“Peloton” or the “Company”) (NASDAQ: PTON) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Peloton investors who were adversely affected by alleged securities fraud between May 10, 2022 and May 10, 2023. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/peloton-lawsuit-submission-form?prid=41239&wire=3
PTON investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the seat posts for certain of the Company’s Peloton Bikes were prone to break or otherwise detach during use, rendering them unsafe for users; (ii) as a result, the Company was likely to recall millions of Peloton Bikes; (iii) accordingly, Peloton overstated its efforts to enhance the safety of its products, understated its estimated future returns, and downplayed the Company’s need to book additional reserves for future product recall expenses; (iv) all the foregoing, once revealed, was likely to negatively impact the Company’s business and financial results and reputation; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
WHAT’S NEXT? If you suffered a loss in Peloton during the relevant time frame, you have until August 8, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
