Peloton is under investigation by the SEC and Department of Justice
The home fitness company recalled its Tread and Tread+ treadmills last May after initially pushing back against a Consumer Products Safety Commission request that it do so. The CPSC had cited the death of one child and 70 other injuries involving the treadmills. The agency said it was aware of multiple instances of children being pulled under running treadmills. Pets and objects could also get drawn into the machines, causing injuries to users, the CPSC said.
"We should have engaged more productively with them from the outset. For that, I apologize."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 recalls are expected to cost Peloton $165 million in lost revenue, according to company estimates.Read MoreThe DOJ, DHS, SEC and Peloton itself did not immediately respond to requests for comment on the investigations and subpoenas on Saturday afternoon.
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