NEW YORK, NY / ACCESSWIRE / August 7, 2023 / Levi & Korsinsky, LLP notifies investors in Peloton Interactive, Inc. ("Peloton" or the "Company") (NASDAQ:PTON) of a class action securities lawsuit.
The lawsuit on behalf of Peloton investors has been commenced in the United States District Court for the Eastern District of New York. Affected investors purchased or otherwise acquired certain Peloton Interactive, Inc. securities 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=43137&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
Peloton Interactive, Inc. NEWS - PTON NEWS
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 THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Peloton during the relevant timeframe, 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. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://zlk.com/pslra-1/peloton-lawsuit-submission-form?prid=43137&wire=1 or call 212-363-7500 to discuss the case.
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
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP