ATLANTA, June 12, 2023 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against Peloton Interactive, Inc. (“Peloton,” or the “Company”) (NASDAQ: PTON). The lawsuit alleges Peloton made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and compliance policies, including: (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; and (iv) all the foregoing, once revealed, was likely to negatively impact the Company’s business and financial results and reputation.

If you bought shares of Peloton between May 10, 2022 and May 10, 2023, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website www.holzerlaw.com/case/peloton/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is August 8, 2023.

Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.  

CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com

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