Peloton Interactive Inc. falsely assured investors its dramatic Covid-inspired sales surge would continue after the end of the pandemic, a Florida pension fund claimed in a lawsuit seeking to recover losses stemming from the company’s stock slump in the past year.
Instead of growing, sales of the company’s stationary bikes and treadmills started falling as the pandemic dragged on and its stock price sunk, wiping out billions of dollars of shareholder value, the fund claimed in the lawsuit, filed Thursday in Manhattan federal court.
Lawyers for the pension fund of the city of Hialeah, Florida, said in the complaint that the company and its executives repeatedly told investors
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