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Peloton Slips As Regulator Warns Users After Child Dies, Says No To Recall

imageStock Markets55 minutes ago (Apr 19, 2021 08:56AM ET)

(C) Reuters

By Dhirendra Tripathi

Investing.com – Peloton (NASDAQ:PTON) shares were down 6% in Monday’s premarket after the death of a child raised safety concerns around Tread+, forcing the U.S. consumer safety regulator to ask consumers to stop using the treadmill if there are small children or pets at home.

Reports said the U.S. Consumer Product Safety Commission has asked the smart fitness equipment maker to recall the treadmills, an advisory the company has refused to accept.

The U.S. safety commission said Saturday said it is aware of 39 incidents including one death related to Peloton Tread+.

“CPSC staff believes the Peloton Tread+ poses serious risks to children for abrasions, fractures, and death,” it said in its advisory.

“Incidents suggest that children may be seriously injured while the Tread+ is being used by an adult, not just when a child has unsupervised access to the machine,” it said.

The company, on its part, said the CPSC’s press release was “inaccurate and misleading.” It reiterated safety instructions to be followed while using the fitness equipment and noted that the CPSC had refused its invitation to issue a joint press release.

Peloton Slips As Regulator Warns Users After Child Dies, Says No To Recall

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