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PTON.US
id: 406
On October 14, 2022, Peloton lost over $450 million of capitalization on concerns that the Company has been sued by a former instructor for $1.8 million for discrimination and is experiencing the fallout from revelations company founder and former executive chairman John Foley suffered margin calls on loans backed by PTON stocks.
Going back on August 29, 2022, Peloton informed securities regulators that it delays its annual report filing as it needs more time to complete the accounting and disclosures concerning impairment charges.
According to Company, the charges resulted from Peloton’s plan to exit its field operations warehouses, a move announced earlier this month as part of a broader cost-cutting plan.
These corporate events raise suspicions of proper governance and information disclosure practices in the Company.
Case Status
Inactive Investigation
Alleged Offence
Mismanagement,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/14/2022