SAN FRANCISCO , June 21, 2022 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Peloton Interactive, Inc. (NASDAQ: PTON) relating to possible false and misleading statements and insider trading by officers and directors.

Peloton and its officers and directors are currently subject to multiple class action securities lawsuits in the Eastern and Southern Districts of New York stemming from two independent courses of conduct. The first relates to alleged false and misleading statements concerning the safety of the company's Tread+ treadmill product which, prior to its recall in May 2021 , caused numerous injuries to children and pets. When Peloton issued the recall, it admitted the company had "made a mistake" in not acting sooner. Peloton officers and directors allegedly sold more than $300 million of company stock at inflated prices while investors were in the dark about these serious safety issues.

The second set of cases relate to alleged false and misleading statements concerning the supply of and demand for the company's products in the context of the COVID-19 pandemic. In November 2021 , after allegedly assuring investors that a recent surge in demand for its home workout products was not primarily related to COVID-19, Peloton announced that it was lowering its financial guidance due to declining demand and a growing stockpile of old inventory. Furthermore, this announcement came on the heels of a separate disclosure that the company's auditors had uncovered a material weakness related to inventory accounting.

The Schubert Firm is investigating potential breaches of fiduciary duty by Peloton's officers and directors in connection with these allegations.

If you own stock in Peloton and wish to obtain additional information about your legal rights, please contact us today or visit our website at https://www.classactionlawyers.com/peloton.

Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco , and with the help of co-counsel, litigates cases nationwide.

Contact Willem Jonckheer Schubert Jonckheer & Kolbe LLP [email protected] Tel: 415-299-8257

View original content:https://www.prnewswire.com/news-releases/shareholder-alert-peloton-interactive-inc-pton-officers-and-directors-under-investigation-for-false-statements-and-insider-trading-301570861.html

SOURCE Schubert Jonckheer & Kolbe LLP

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