According to the Complaint, Peloton Interactive, Inc. is a fitness equipment and media company, whose main products are internet-connected stationary bicycles and treadmills that enable monthly subscribers to remotely participate in classes via streaming media.

For most of 2020 and 2021, as the COVID-19 pandemic and related stay-at-home orders and business closures largely kept individuals out of the gym, the demand for in-home exercise options increased dramatically. Against that backdrop, in the months leading up to the Class Period, Peloton experienced unprecedented demand for its products and services.

The Complaint alleges that, throughout the Class Period, Defendants repeatedly and falsely assured investors that the Company's positive results and growth would continue after the pandemic and that Defendants made false and misleading statements about the amount of inventory that Peloton held as well as the Company's ability to keep its inventory levels in line with substantial, sustained demand. The Complaint further alleges that, as a result of Defendants' misrepresentations, Peloton common stock traded at artificially inflated prices during the Class Period.

On May 5, 2022, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 21-CV-09582.

Lead Plaintiff filed an amended consolidated Complaint on June 25, 2022. Defendants filed a Motion to Dismiss the amended consolidated Complaint on August 22. On March 30, 2023, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On May 6, 2023, Lead Plaintiff filed a second amended consolidated Complaint. Defendants filed a Motion to Dismiss the second amended consolidated Complaint on June 16. On September 30, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.

Plaintiff filed a Notice appealing the Court's Dismissal Order on October 21, 2024.