Peloton is in hot water with US regulators after a child died in an accident involving one of its treadmills.
The Securities and Exchange Committee (SEC), America’s financial regulator, is investigating the exercise company for its disclosures surrounding the tragedy and a string of other mishaps which resulted in customers being injured.
Peloton has also been ordered by the Department of Justice and the Department of Homeland Security to hand over documents and other information related to the injuries.
Probe: America’s financial regulator is investigating exercise company Peloton after a child was killed in an accident involving its treadmills
The business, which sells exercise equipment around the world, recalled its Tread and Tread+ running machines in May – despite saying just weeks earlier that there was ‘no reason’ to stop using the products.
Some customers had grown wary, following reports that many had been hurt, and a child had died after becoming stuck under a machine.
Peloton revealed it had been named in several lawsuits associated with the recalls, and would ‘cooperate fully with each of these investigations’.
Shares plummeted nearly 8 per cent.
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