NEW
YORK, Aug. 4, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action
lawsuit has commenced on behalf of shareholders of Peloton
Interactive, Inc. (NASDAQ: PTON).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/peloton-class-action-loss-submission-form/?id=42946&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Peloton between May 10,
2022 and May 10, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
August 8, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Peloton Interactive, Inc. issued
materially false and/or misleading statements and/or failed to
disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law