U.S. markets closed

  • S&P 500

    4,167.59
    +2.93 (+0.07%)
     

  • Dow 30

    34,230.34
    +97.31 (+0.29%)
     

  • Nasdaq

    13,582.42
    -51.08 (-0.37%)
     

  • Russell 2000

    2,241.37
    -6.92 (-0.31%)
     

  • Crude Oil

    65.31
    -0.38 (-0.58%)
     

  • Gold

    1,786.60
    +10.60 (+0.60%)
     

  • Silver

    26.57
    +0.03 (+0.12%)
     

  • EUR/USD

    1.2011
    -0.0004 (-0.04%)
     

  • 10-Yr Bond

    1.5840
    -0.0080 (-0.50%)
     

  • GBP/USD

    1.3901
    +0.0013 (+0.09%)
     

  • USD/JPY

    109.1790
    -0.1260 (-0.12%)
     

  • BTC-USD

    56,934.21
    +2,306.05 (+4.22%)
     

  • CMC Crypto 200

    1,457.89
    +52.58 (+3.74%)
     

  • FTSE 100

    7,039.30
    +116.13 (+1.68%)
     

  • Nikkei 225

    28,812.63
    -241.37 (-0.83%)
     

INVESTOR ALERT: Labaton Sucharow LLP Reminds Investors of a Class Action Lawsuit Against Peloton Interactive, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, NY / ACCESSWIRE / May 5, 2021 / Labaton Sucharow LLP, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Peloton Interactive, Inc. ("Peloton" or "the Company") (NASDAQ:PTON) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between September 11, 2020 and April 16, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before June 28, 2021.

We also encourage you to contact David J. Schwartz of Labaton Sucharow LLP, 140 Broadway, New York, New York, at (800) 321-0476, to discuss your rights free of charge. You can also reach us through the firm's website at www.labaton.com, or by email at david@labaton.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Peloton's Tread+ product was a serious safety risk to small children and pets, resulting in multiple incidents of injury to both including the tragic death of one child. The Company knew about the safety risk but did not treat safety as a priority, failing to recall or suggest a usage halt of the Tread+. The U.S. Consumer Product Safety Commission ("CPSC") announced that the Tread+ represented a serious risk to public safety and urged consumers with small children to stop using the product. The CPSC also found that the Tread+ represented a safety risk to consumers that lost their balance. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Peloton, investors suffered damages.

Join the case to recover your losses.

Labaton Sucharow LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
David J. Schwartz
(800) 321-0476
david@labaton.com

SOURCE: Labaton Sucharow LLP



View source version on accesswire.com:
https://www.accesswire.com/644994/INVESTOR-ALERT-Labaton-Sucharow-LLP-Reminds-Investors-of-a-Class-Action-Lawsuit-Against-Peloton-Interactive-Inc-and-Encourages-Investors-with-Losses-in-Excess-of-100000-to-Contact-the-Firm

Recommended Stories

  • Bitcoin will eventually hit '$1 million a coin,' CoinDesk editor predicts

    As investor interest in cryptocurrency spikes, bitcoin could rise to $1 million over the next five years, one expert told Yahoo Finance Live.

  • Bombardier to Exit Alstom Stake With $630 Million Share Sale

    (Bloomberg) -- Bombardier Inc. is selling its stake in Alstom SA in a deal that would generate proceeds of more than $630 million at current market prices.The offering has gathered enough investor demand to cover the sale, according to terms seen Tuesday by Bloomberg. Price guidance will follow and such accelerated offerings typically come at a discount. After completion of the sale, Bombardier said it expects to have exited its 3.1% stake in Alstom’s common stock.The deal comes on the heels of Bombardier’s sale of its train-making business to Alstom for about $3.6 billion. That transaction included the stake in the French company that Bombardier is selling. Separately, Bombardier has exited its regional-jet business and now focuses on making private planes.The Montreal-based company asked creditors Monday to approve changes to terms on eight bond issues after an unidentified noteholder argued that asset sales including the rail and commercial-aircraft deals violated covenants on debt maturing in 2034.Bombardier fell 2.1% to 93 Canadian cents at 12:42 p.m. in Toronto amid a broad market decline. Alstom was little changed at 45.83 euros at the close in Paris.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • GE shareholders reject CEO Culp's $230 million pay in rare rebuke

    NEW YORK/CHICAGO (Reuters) -General Electric Co shareholders rejected top executives' compensation packages, including a payout of as much as $230 million to CEO Larry Culp, at the industrial conglomerate's annual shareholder meeting on Tuesday. While the shareholder vote was non-binding, the move was a rare rebuke of a major corporation's handling of its executive pay. As part of an extension of Culp's employment contract to 2024, GE last August canceled old shares given to him and granted him new shares tied to lower financial targets.

  • Stock Buybacks: Why Would a Company Reinvest in Themselves?

    The rapidly improving economy and stocks at record highs may be fueling a flurry of stock buyback activity in 2021.

  • U.S. SEC chair says reviewing short-selling, swap rules after GameStop, Archegos sagas

    The review of rules by the Securities and Exchange Commission (SEC) was prompted by January's GameStop saga and the meltdown of Archegos Capital, its new chair plans to tell lawmakers. Gary Gensler, sworn in last month as chair of the top markets watchdog, will testify before the House of Representatives Financial Services Committee on Thursday. Democrats are pressuring him to take a tough stance on Wall Street after Gamestop's fierce rally in January, fed by bullish posts on Reddit, and the March implosion of New York investment fund Archegos.

  • Apollo’s $5 Billion Bet on Yahoo Aims to Go Beyond Advertising

    (Bloomberg) -- Apollo Global Management Inc.’s $5 billion deal for Verizon Communications Inc.’s media unit will create a new entity dubbed Yahoo, and while the name is losing its exclamation point, the new owners are enthusiastic about the business’s opportunities.Along with Yahoo, Apollo is getting AOL, TechCrunch, Ryot, Built By Girls and Flurry. Guru Gowrappan, who headed the division for Verizon, will be chief executive officer of Yahoo. Verizon will keep a 10% stake in the venture.Apollo partner Reed Rayman said he hopes to take these primarily advertising-driven media brands and augment them with new products like subscription services and sports betting.Those ambitions aren’t altogether different than the previous management’s, but Verizon, which was almost solely focused on expanding its wireless business into 5G, couldn’t find enough patience or resources to make its media foray a success.Yahoo has about 900,000 users of its email, sports and finance sites. And while that’s a wealth of consumer connections, Verizon discovered that the ties aren’t very durable.‘Rude Awakening’If Apollo sees the big online audience as a short-term win, it “could be in for a rude awakening,” said Joanna O’Connell, an analyst with Forrester. “Consumer relationships don’t just persist in perpetuity in a vacuum. They need to be nurtured and grown.”Rayman called Yahoo Finance the world’s premier financial site but declined to provide specifics of growth plans for the outlet, which could range from stock trading to investment services. “We’re looking at a wide range of business and product initiatives that can really leverage its scale,” he said.Apollo also sees opportunity beyond the marquee properties of Yahoo Finance and Yahoo Sports.“Yahoo Mail is still the second-most-used mail worldwide,” Rayman said. “There is a lot in here that we’re excited about. This wasn’t a thesis of buying a lot of things just to get one or two things.”Apollo got its start in the 1990s as a so-called vulture investor led by co-founder Leon Black. The targets were waning businesses and distressed assets. Today its roster of investments makes it a global conglomeration involved with a range of industries, including insurance, tech, manufacturing and TV stations.Verizon, which wrote down $4.5 billion of the media unit’s value, will get to walk away from a distracting, unprofitable business with $5 billion that it can use to help pay off debts.Apollo has a few options, said Roger Entner, an analyst with Recon Analytics.“Private equity makes money in two ways: put companies together or break them apart,” Entner said. “These guys will probably apply some tender loving care to the head count and the balance sheet and sell the best parts.”No M&A PlanRayman said there’s no immediate M&A plan for Yahoo.“It’s an iconic asset and we need to make sure we do it right,” he said.Apollo has been involved in media carve-outs before, such as Cox Communications Inc. selling the firm its TV stations in 2019 but keeping a minority stake, similar to Verizon. It also attracted Alphabet Inc. last year to buy a stake in home-security firm ADT Inc., an Apollo portfolio company it took public in 2018.And Apollo may have a playbook for squeezing juice out of withered web assets. The firm acquired two former online-photo giants, Shutterfly and Snapfish, and has been planning to combine them and take the venture public.There’s a possible advantage for Verizon in a scenario like that, Cowen analyst Colby Synesael wrote in a note Monday.If Apollo is successful in rebuilding Yahoo and brings the asset back to market in an initial public offering, “Verizon will participate in the upside via its 10% stake,” Synesael wrote.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Crude Oil Prices Break Above Their Seven-Week High

    Crude oil prices breached their seven-week high at the mid-week trading session in London over a record drop in America’s crude oil inventories with growing expectations that rebounding economic activities in key emerged markets will continually boost energy demand momentarily.

  • Glaxo Defends Strategy in Face of Elliott Management Stake

    (Bloomberg) -- GlaxoSmithKline Plc’s management defended the company’s strategy as the pharmaceutical giant comes under growing pressure to revive its fortunes after activist investor Elliott Management Corp. took a stake.Speaking at Glaxo’s annual general meeting Wednesday, Chairman Jonathan Symonds said he understood investor skepticism, but said the company was now “doing the right things” and asked shareholders to judge it on the results. Glaxo is preparing to split in two next year, spinning off its consumer unit and leaving the remaining company focused on biopharma and vaccines.“We recognize there is much still to do,” Symonds said at the virtual AGM. We “understand skepticism given promises made in the past. But be in no doubt that we -- this board and this management team -- are determined to deliver.”Glaxo is in the middle of a turnaround effort led by Chief Executive Officer Emma Walmsley, who has been in post since 2017. The company has lagged behind competitors, notably fellow British drugmaker AstraZeneca Plc, after it moved away from lucrative areas like oncology, which Walmsley has been trying to rebuild. Pressure on Glaxo to demonstrate successful change stepped up in recent weeks because of Elliott’s move to build a stake.While the activist hedge fund’s plans are unknown, investors and analysts have speculated it may push Glaxo to execute its split and strategy faster. The company is planning to set out the blueprint for the new business in June. Symonds reiterated Thursday that the dividend for the two new companies will be lower than the longstanding annual payout of 80 pence a share.The company has also come under fire for its absence on the Covid-19 vaccine effort. Glaxo decided early on to use its adjuvant technology -- substances used to enhance the immune response to vaccines -- to partner with other drugmakers in developing a shot, rather than creating its own. Symonds acknowledged at the meeting that it was “disappointing” its main partnership with Sanofi hasn’t moved as quickly as planned.Glaxo is still working with a number of companies to develop coronavirus shots that could be available later this year. The company is also awaiting emergency approval from U.S. regulators for its Covid-19 antibody treatment with Vir Biotechnology Inc.It was “disappointing that the largest of those partnerships -- Sanofi -- was delayed,” Symonds said. “We intend to be competitive across a range of vaccine technologies, including mRNA, and we are well-placed to do this.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • E-Commerce Service Valued at $235 Million Targets U.S. IPO

    (Bloomberg) -- SCI Ecommerce, the online shopping service provider backed by two of Alibaba’s earliest employees, has raised more than S$50 million ($38 million) to expand in Southeast Asia ahead of a potential Nasdaq listing.Asia Partners led the new funding round, which valued the seven-year-old startup at $235 million, a person familiar with the matter said, asking not to be identified. Armed with an aggressive expansion strategy in Southeast Asia, the startup is planning to pursue a primary listing in New York as early as the end of this year with a target market valuation of $1 billion, Chief Executive Officer Joseph Liu said in an interview over Zoom. The company, which last year obtained in-principle approval to list in Singapore, will consider a potential secondary listing in city’s stock exchange, he added.SCI -- short for Singapore, China, Indonesia -- helps brands such as Unilever, Crayola, Nestle and Danone set up and manage their online stores in Southeast Asia and China. The startup, which was founded by Liu in 2014, plans to use the fresh capital to set up local teams in Malaysia, Thailand and the Philippines and hire at least 100 people across Southeast Asia and China in the next 12 months, adding to its near 200-strong workforce. Existing investors include two of 18 original founders of Alibaba Group Holding Ltd., James Sheng and Eddie Wu, as well as Jubilee Capital and Chinese tech entrepreneur Pang Shengdong.“Our vision is to become the No. 1 e-commerce solution provider in Southeast Asia,” said the 34-year-old entrepreneur. He added SCI’s future plan is to become a combined Shopify Inc. and Baozun Inc. for the Asia Pacific market, referring to the Canadian and Chinese platforms that help businesses establish their online presences with digital storefronts and other tools.Liu said SCI posted net income on revenue that more than doubled from 2019 to almost S$150 million in 2020. Its operating profit surged from S$183,000 in 2019 to S$1.9 million during the same period.Asia Partners, which closed its debut fund at $384 million in March, invests in tech startups in Southeast Asia. Its six co-founders include Nick Nash, former president of Sea Ltd., the region’s biggest internet company, and Oliver Rippel, former CEO of Naspers Ltd.’s B2C e-commerce segment who led the company’s investments in Indian online retailer Flipkart.(Updates with SCI’s valuation in the second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • ‘Reopening’ stocks give S&P 500, Dow strong footing, tech names lag

    (Reuters) – Wall Street’s main indexes rose on Monday after a week of largely upbeat earnings strengthened expectations of sustained profit growth for companies, while some high-flying growth stocks lagged a broader rally.

  • S&P 500 Price Forecast – Stock Markets Pull Back

    The S&P 500 has pulled back significantly on Tuesday as we continue to see the 4200 level offer a massive amount of resistance.

  • Kevin O’Leary on cryptocurrency: ‘I don’t own random ETFs with blood coin in them’

    It appears that Shark Tank investor Kevin O’Leary no longer thinks bitcoin is “garbage.” The chairman of O’Shares ETF told Yahoo Finance Live that he’s allocated 3% of his portfolio to the world’s largest cryptocurrency after his native Canada, and a handful of other countries, eased restrictions on institutional buying of the asset.

  • AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Falls after RBA Disappoints

    The AUD/USD is dropping because domestic yields are falling, making it a less-attractive investment. Yields on 10-year bonds dipped to 1.68%.

  • Archegos prepares for insolvency as banks seek compensation: Financial Times

    Archegos has hired restructuring advisers to assess the potential legal claims from banks and to plan for a possible winding down of its operations, the report said, citing two people familiar with the matter. The family office's meltdown was triggered after ViacomCBS, a company Archegos was heavily exposed to, announced a stock offering in March. Global banks lost nearly $10 billion from the Archegos fallout.

  • Taiwan's Foxconn forms semiconductor JV with Yageo

    TAIPEI (Reuters) -Taiwan's Foxconn said on Wednesday it has formed a joint venture with Yageo Corp to expand its presence in the semiconductor industry, as a global chip shortage rattles producers of goods from cars to electronics. The supply bottleneck has led to production cuts and warnings of supply chain disruption from manufacturers across the world this year. Electronics manufacturing conglomerate Foxconn, which counts tech giants such as Apple among its top clients, said in a statement the two companies will set up a new firm in Taiwan called XSemi Corporation.

  • European Equities: Futures Point to the Red with No Major Stats from the Eurozone to Consider

    There are no major stats to provide the majors with direction. That leaves the majors in the hands of the Asian and U.S markets on the day.

  • Warren Buffett is right, inflation is running rampant

    Inflation is picking up in a major way, C-suites across the country warn.

  • Shell Sells U.S. Refinery in Latest Divestment

    (Bloomberg) -- Royal Dutch Shell Plc reached an agreement to sell its Puget Sound Refinery to HollyFrontier Corp. for $350 million in the latest major divestment for the European oil giant that’s moving away from processing crude.The U.S. refiner will also pay an estimated $150 million to $180 million for the hydrocarbon inventories at the facility near Anacortes, Washington, according to a HollyFrontier statement. The transaction also includes on-site co-generation and logistical assets.Shell is shrinking its refining portfolio as it adjusts its holdings to better align with a lower-carbon future. The company is instead focusing on sites that have integrated oil refineries and chemical plants -- a bet on the future growth of petrochemicals.In September, the European major said it would retain only six downstream facilities including Norco in Louisiana and Deer Park in Texas, paring back from 14. Shell then said in November it was shutting its Convent refinery in south Louisiana amid the devastating impacts from the pandemic on the fuel industry.HollyFrontier said it expects to fund the takeover with a one-year suspension of its regular quarterly dividend and cash on hand. The deal should be closed by the fourth quarter.“Puget Sound Refinery will complement our existing refining business, with sales into premium product markets and advantaged access to Canadian crude,” HollyFrontier Chief Executive Officer Mike Jennings said in the statement.(Corrects refinery location in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Pfizer sees robust COVID-19 vaccine demand for years, $26 billion in 2021 sales

    (Reuters) -Pfizer Inc on Tuesday raised its forecast for 2021 COVID-19 vaccine sales by more than 70% to $26 billion and said demand from governments around the world fighting to halt the pandemic could contribute to its growth for years to come. Revenue from the vaccine - developed with German partner BioNTech SE - is expected to account for more than one third of Pfizer's sales this year. The forecast is based on contracts to deliver 1.6 billion vaccine doses this year.

  • Deutsche Post DHL hikes outlook again on ecommerce boom

    BERLIN (Reuters) -German logistics company Deutsche Post raised its financial outlook again on Wednesday after more than tripling its operating earnings in the first quarter, predicting e-commerce will keep booming and global trade will rebound. Deutsche Post DHL raised its operating profit forecast to more than 6.7 billion euros ($8.05 billion) in 2021 and more than 7 billion in 2023, up from a previous expectation of over 5.6 billion and over 6 billion, respectively. Deutsche Post, one of the world's biggest logistics companies, reported its first-quarter operating profit jumped to 1.9 billion euros on revenues up 22% to 18.9 billion.