An investor sued Peloton Interactive Inc.'s current and former senior leaders, claiming some of them sold nearly $500 million in company stock while hiding treadmill safety problems that killed one child and injured dozens.
The shareholder derivative lawsuit accuses ex-CEO John Foley of selling 600,000 shares worth $77 million shortly before news broke about critical safety flaws affecting its flagship products, around the same time eight other members of Peloton’s board and management sold stock worth $417 million.
The first bloc of insider sales, worth more than $100 million, allegedly came about a week before a 3-year-old boy suffered a ...
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