Peloton Gets Early Win in Suit Over Classes But Shares Fall (1)

Peloton Interactive Inc. defeated, for now, certification of a consumer class alleging the company misrepresented its library of classes as “ever-growing.”

Neither of the two named plaintiffs have shown they are qualified to represent the class, the U.S. District Court for the Southern District of New York said in a ruling docketed Thursday.

The ruling comes on a day that saw Peloton’s stock drop 24 percent on a report that the company will temporarily halt production of bikes and treadmills. The company slashed its sales forecast in November.

The claims of plaintiff Alicia Pearlman, who alleges violations of Michigan’s consumer ...