Live coverage of the event
A Peloton shop in New York City. (CARLO ALLEGRI/REUTERS)
Peloton's shares fell nearly 8% this morning after the announcement.
Around 2.2 million bicycles are affected.
The company stated that bikes sold at $1,400 or less from January 2018 to this month may have a defective bike seat. Peloton's shares have fallen 39% in the last 12 months and by 95% since their highs of late 2020.
Peloton Interactive Inc.
PTON (U.S. : Nasdaq