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April 19, 2021, 6:27 a.m. EDT

Peloton says CPSC report warning consumers to stop using Tread+ is 'inaccurate and misleading'

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By Tomi Kilgore


shares of Peloton Interactive Inc. /zigman2/quotes/208035743/composite PTON -4.44% dropped 6.2% in premarket trading Monday, after the at-home-fitness company responded said a recent warning to consumers from the U.S. Consumer Product Safety Commission to stop using its Tread+ product was "inaccurate and misleading." The CPSC said over the weekend that the "urgent warning" about how the danger of the Tread+ machines comes after multiple reports of small children and pets being injured beneath the machines, including one death. Peloton said it was shocked and devastated to learn that a child had died, but said, "there is no reason to stop using the Tread+, as long as all warnings and safety instructions are followed." The company said it "knows the Tread+ is safe" if consumers heed the warnings, and said children under the age of 16 should never use the Tread+, and children, pets and objects should be kept away from the Tread+ at all times. "Peloton invited CPSC to make a joint announcement about the danger of not following the warnings and safety instructions provided with the Tread+, and [Chief Executive John] Foley asked to meet directly with CPSC," Peloton said.

US : U.S.: Nasdaq
$ 92.29
-4.29 -4.44%
Volume: 17.85M
May 17, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$28.83 billion
Rev. per Employee

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