Faruqi & Faruqi, LLP, Sole Lead Counsel, Scores Final Approval of $13.95 Million Settlement In In re Peloton Interactive, Inc. Securities Litigation

On July 9, 2024, the Court granted final approval to a $13.95 million settlement in In re Peloton Interactive, Inc. Securities Litigation, No. 21-cv-02369-CBA-PK (E.D.N.Y.).  Faruqi & Faruqi, LLP (the “Faruqi Firm”) served as sole lead counsel in the action, which alleged that Peloton Interactive, Inc. (“Peloton”) and certain of its officers made materially false and/or misleading statements regarding Peloton’s business, operational and financial results, by failing to disclose several adverse facts regarding serious safety threats posed by Peloton’s Tread+.  This settlement was reached after a thorough investigation by the Faruqi Firm, including significant discovery and an arms-length mediation session. 

The final order is available here.