Peloton has revealed that it is under heavy fire from SEC, Justice, and Homeland, as a probe is continuing over the safety issues of the company's exercise equipment. There have been several cases that were brought against Peloton, and all of it was claiming that its technology may lead to injuries and other physical harm.
Over the past week, Peloton has made the headlines several times, and it is due to the questioning of its safety and injury reports which the company has.
The Securities and Exchange Commission, along with the Department of Justice and Department of Homeland Security are all investigating the case, having subpoenas for said reports.
Peloton Investigation from SEC, Justice, Homeland
In the recent filing of Peloton, targeted for investors and the like, the company has revealed that the current probe against them was filed by the SEC. Here, they revealed that several of its exercise equipment are under probe, particularly because of its problems with safety.
These injury reports were not publicized by Peloton, as the concerns and problems remain unseen from the public, but would be the focus of the probe by the government agencies. There has been a rising case against Peloton and the safety of its equipment and this has been the major controversy the company has faced.
Additionally, the company has reported poor financials over the past, and it has been linked to the distrust of their technology, as well as equipment that has been gotten a notorious reputation.
According to Engadget, last May saw a recall of 125,000 units of the company's Tread and Tread+ treadmills, which have been the focus of the case. Peloton fought against this case, and have insisted that their technology was safe to use, provided that people do not disregard the safety instructions.
Additionally, Peloton insists on users read the manual to learn how to properly operate the machine, for safer use and experience. Before this, there has been a reported death of a child and other numerous injury cases which were submitted against Peloton, something which has been central to the case.
Peloton Price Discount
Last week, Peloton has rolled out a price discount for its training equipment, particularly its exercise indoor bikes, and it has brought something for everyone to enjoy. However, this was their way to shift the focus of the consumers from their current issues and run-ins with the SEC, Justice, and Homeland.
Peloton still has an active probe regarding its safety, so it is best for people to properly review the safety and issues of the technology, as well as its features. Training equipment should be fully understood before purchase, as it would help in operating and using it, without any repercussions or injuries later on.
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Written by Isaiah Richard