Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessPeloton gets subpoenas from DOJ, DHS for treadmill injuries, faces SEC investigation...

Peloton gets subpoenas from DOJ, DHS for treadmill injuries, faces SEC investigation for public disclosures related to injuries

Add to Favorite
Added to Favorite

 

On Friday, the fitness equipment manufacturer Peloton said that it has been subpoenaed by both the Department of Justice (DOH) and the Department of Homeland Security (DHS) for documents and information that was related to the injuries suffered by users of its treadmills. It also said that it was under investigation by the Securities and Exchange Commission (SEC), in a filing with the SEC, on Friday, for its public disclosures that are related to those injuries.

 

In May, Peloton had recalled its popular Tread and Tread+ after a child had died in an accident involving its treadmill. Earlier, beginning in spring, dozens of people had suffered injuries and accidents while using these machines. Some users also complained that pets suffered injuries and more including a pet getting sucked into under the machine while it was activated.

 

Although the injuries and accidents had been reported much earlier the company kept insisting that its treadmills did not pose dangers. It resisted the calls of regulators, politicians and users who were saying that injuries and accidents were a result of flawed equipment. The company’s was hesitant to recall its treadmills.

 

In mid-April the Consumer Product Safety Commission, which is a watchdog group, cautioned people not to use the Tread+ from Peloton and posted an urgent warning that it was a serious risk and had injured pets and children. It asked users who had children to stop using the product immediately.

 

The company is also facing individual lawsuits from users after its recall.

 

The fitness equipment manufacturer said that it would cooperate with all the investigations. It said that as of now it was unable to predict the eventual scope, duration or outcome of the investigations.

 

 

Peloton became extremely popular and was much in demand during the pandemic as people were unable to visit gyms and its fitness equipment both the Tread and Tread+ saw huge sales with demand more than supply. However, the equipment also caused accidents and injuries.

 

Peloton shares fell by 25 percent this year to date. The company’s market cap is at $34 billion. Peloton was contacted by several agencies including CNBC and Gizmodo, but its spokesperson has not responded when asked for additional comment.

Photo Credit Peloton  

Subscribe to get Latest News Updates

Latest News

You may like more
more

Veeva Systems Inc. (NYSE:VEEV) Stock Analysis: A Look into the Future

Jeff Garro from Stephens sets a price target of...

WTW (NASDAQ:WTW) Sees Price Target Increase to $382 by Jefferies

WTW Stock Price Target Raised by Jefferies - An...

Accenture (NYSE:ACN) Surpasses Earnings Expectations

Accenture's EPS of $3.59 exceeded the estimated $3.42, showcasing...

CarMax, Inc. (NYSE:KMX) Stock Upgrade by RBC Capital

RBC Capital upgraded CarMax, Inc. (NYSE:KMX) to "Outperform" with...