NEW YORK, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Peloton Interactive, Inc. (“Peloton” or the “Company”) ( PTON). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Peloton and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 29, 2022, post-market, Peloton disclosed in a filing with the U.S. Securities and Exchange Commission that it will be unable to timely file its annual report for the year ended June 30, 2022. Specifically, Peloton stated that it requires additional time to permit completion of the accounting and disclosures related to the measurement of the FQ4’s long-lived asset impairment charges associated with the recent announcement to exit its last mile warehouses, including management’s assessment of the effectiveness of internal controls over financial reporting as it relates to its accounts and disclosures related to these strategic business developments.
On this news, Peloton’s stock price fell $0.89 per share, or 8.5%, to close at $9.58 per share on August 30, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby