An investigation on behalf of investors of Peloton Interactive, Inc. (NASDAQ: PTON) shares over potential securities laws violations by Peloton Interactive, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Peloton Interactive, Inc. (NASDAQ: PTON) concerning whether a series of statements by Peloton Interactive, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Peloton Interactive, Inc. provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. Peloton Interactive, Inc went public in late September 2019. Peloton Interactive, Inc sold 40 million shares at $29 per share in its initial public offering, which raised $1.16 billion. However, since the IPO, shares of Peloton Interactive, Inc (NASDAQ: PTON) declined to $21.14 per share on October 3, 2019.