Peloton Interactive, the at-home fitness equipment and interactive media brand, was hit with an employment lawsuit on April 22 in Kentucky Circuit Court for Kenton County. The suit was filed by attorney David L. Drake on behalf of a seasonal employee who contends that he was fraudulently induced into staying employed with Peloton by being granted 'worthless' restricted stock units and stock options. The suit contends that at the time of his contributions to the employee stock purchase plan the company's stock was worth $160 per share but dropped to eight dollars per share around the time of the plaintiff's departure from employment. Counsel have not yet appeared for the defendants. The case is 24-CI-00766, Bradley Vs. Peloton Interactive, Inc. Et Al.
Entertainment, Sports & Media
May 02, 2024, 1:50 AM