Peloton Changes Stance on Treadmills and Issues Full Recall
Peloton Interactive (NASDAQ: PTON) is backtracking today on its initial response to the U.S. Consumer Product Safety Commission (CPSC) regarding safety concerns with its treadmills. In March, Peloton was informed of a child's death from an accident with one of its treadmills.
Peloton CEO John Foley initially sent a letter to customers stressing the safety instructions that come with the product, which include a warning to keep children and pets away from the equipment, as well as the instruction that owners should remove the machines' safety keys when they are not in use.
The CPSC followed up with a press release on April 17 warning consumers to stop using the Tread+, and Peloton responded, calling the CPSC's press release "misleading" and "inaccurate." But the company today has issued full recalls of both the Tread and Tread+ treadmills.
Source Fool.com
