Peloton, Investors Notch Final OK for $14 Million Settlement

Peloton Interactive Inc.'s agreement to pay $14 million to settle a securities fraud class action related to treadmill safety issues merits final approval, a federal court ruled.

Attorneys’ fees of $3.9 million, or 28% of the settlement amount, are reasonable, Magistrate Judge Peggy Kuo said Tuesday for the US District Court for the Eastern District of New York.

• The investors alleged Peloton and its leadership failed to disclose safety threats posed by the Tread+, inflating the stock and causing investment losses when the issues came to light
• Seven investors opted out of the settlement and none objected, Kuo said
• Peloton ...