Peloton subpoenaed by DOJ, DHS for documents, information related to treadmill injuries
The fitness company said it was being investigated for injuries associated with its Tread+ treadmill
Peloton issuing recall on treadmills may impact demand: BMO managing director
BMO Capital Markets managing director Simeon Siegel discusses the impact of Peloton's treadmill recall.
Peloton has been subpoenaed by the U.S. Department of Justice and the Department of Homeland Security for documents and information regarding injuries related to its fitness equipment, the company said Friday.
The fitness company said it was being investigated for injuries associated with its Tread+ treadmill in papers filed with the Securities and Exchange Commission on Friday. The SEC said it’s also investigating Peloton’s public disclosures of injuries associated with its products, the company said.
Peloton said it was being investigated for injuries associated with its Tread+ treadmill. (Photo by Ethan Miller/Getty Images)
Peloton issued a voluntary recall of its Tread and Tread+ treadmill products in May after the U.S. Consumer Product Safety Commission (CPSC) issued an "urgent warning" after one child was killed and citing multiple incidents of "small children and a pet being injured beneath the machines." Peloton initially pushed back at the consumer watchdog agency’s warning. Peloton said Friday it was also named in several lawsuits related to the recalls.
PELOTON REPORTS WIDER LOSS THAN EXPECTED, SLASHES PRICE OF BIKE AGAIN
Peloton did not immediately return FOX Business' request for comment.
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The news comes after the connected fitness company announced on Thursday it would cut the price of its original spin bike by hundreds of dollars from $1,895 to $1,495.