The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Peloton Interactive, Inc. (NASDAQ: PTON) who purchased shares between December 9, 2020 and November 4, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Peloton lawsuit alleges that Defendants repeatedly, falsely assured investors that the Company’s positive results and growth would continue after the pandemic. In addition, during the Class Period, Defendants made false and misleading statements about the amount of inventory that Peloton held, and touted the Company’s ability to keep its inventory levels in line with substantial, sustained demand. As a result of Defendants’ misrepresentations, Peloton common stock traded at artificially inflated prices during the Class Period.
Shareholders have until January 18, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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