CNN — Exercise treadmill maker, Peloton, is under investigation by
the Securities and Exchange Commission.The Department of Justice and the Department of Homeland Security have also subpoenaed documents from the company related to how it reported those injuries, Peloton said in a recent annual financial filing.
The home fitness company recalled the Tread and Tread+ treadmills last May after the death of a child and 70 other injuries involving the products. The
Consumer Products Safety Commission requested the recall.Pets and objects could also get drawn into the machines, causing injuries to users, the CPSC said.
The company is also the subject of numerous lawsuits, as it acknowledged in its annual 10-K report filed with the SEC on Friday.
The recallsareexpected to cost Peloton $165 million in lost revenue, according to company estimates.
Peloton dropped the Tread and Tread+ products from its website following the recalls.
The site has a new model up that was “thoughtfully designed with safety in mind,” according to the company.
The new machines will be available Monday.
The-CNN-Wire
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