Acclaimed as the biggest interactive fitness platform, Peloton, a well-known name in stationary bikes, introduced its treadmills around three years ago. Having sold nearly 125,000 of these exercise machines, the company recently released new features like letting users access scenic routes through their screens.
Peloton has been in the news after the Consumer Product Safety Commission (CPSC) warned households with children and pets to immediately stop using the company’s Tread+ treadmills, for safety reasons. Growing pressure from the CPSC in wake of a child’s death and roughly 70 other injuries, including 29 incidents where users suffered cuts and broken bones, has finally forced Peloton to take a U-turn from its earlier defiant stand.
The treadmill company announced the voluntary recall of its Peloton Tread+ and Tread products, in collaboration with the safety commission. Having already stopped the sale of the Tread in March after rolling it out only for an invitation-only release for a limited period of time, the recall now means that the sales and distribution of both the Tread and Tread+ will stop with immediate effect.
The Role of CPSC in the Recall of Peloton Treadmills
The agreement between Peloton and CPSC, after protracted negotiations over weeks, stipulates an end to sales and distribution of both the Tread and Tread+ products in the country. Consumers who want to return the products can now claim a refund of the purchase price from Peloton.
Peloton’s change of stance is accompanied by an announcement from their CEO, John Foley, admitting that the company’s initial response to the CPSC warning, was a mistake. The admittance, together with the apology, comes two months after Peloton issued warnings to keep children below 16 away from its machines, but kept on resisting demands to recall them.
Peloton received reports from 72 users, regarding children, pets, and other objects, being pulled under its treadmills. Among these, there were reports of 29 injuries including second-and third-degree abrasions, broken bones, lacerations, and abrasions.
What Do Consumer Advocates Have to Say About the Situation?
William Wallace, safety policy manager for Consumer Reports, says that the strong stand taken by the CPSC forced Peloton to fall in line eventually. Going by his statement regarding the recall and offer for a full refund, he is disappointed that the company did not take the action sooner.
Nancy Cowles, executive director of Kids in Danger, was a bit more forgiving of the alleged late recall and expressed her satisfaction that Peloton did the right thing eventually. She further added that it is always better to have a product with safety built into its design, rather than issuing warnings about its usage.
Wall Street’s Response to the Peloton Recall
Peloton shares were priced at $29 when it went public in 2019. The company has reaped the benefits of the boom in the home exercise equipment sector during the COVID-19 pandemic. Gaining from the strong surge, Peloton’s shares were trading at a high of $167 in January. However, Wall Street has not taken kindly to the recall fiasco, bringing the company’s stock tumbling down to roughly $84, since the announcement.
Recall and Refund Options for Treadmill Owners
People who own a Tread+ can opt for a full refund from the company till November 6, 2022, while only partial refunds will be on offer after that. For those who are not looking for a refund, Peloton has come up with a no-charge offer to move their Tread+ to a room where the treadmill can be out of reach for children.
Peloton is also in the process of upgrading the software that can help lock the Tread+ automatically after every use, and the user needs to punch in a four-digit code to subsequently unlock the machine.
There is also a separate recall involving Tread due to the touchscreen on the machine falling off, and posing a potential injury threat to users. Although there have been no reported injuries in the U.S. so far, a few cases of minor cuts and bruises were reported from U.K. and Canada.
Tread owners have the option to claim a full refund from the company or wait until the company comes up with a fix, and provides a free checkup and repair of the defect. Peloton owners can contact the company at onepeloton.com or call on their toll-free number between 9 a.m. and 7 p.m. ET Monday through Friday, and 9 a.m. to 6:30 p.m. on weekends.
Seek Recall and Refund Legal Remedies from an Accomplished Virginia Attorney
A product recall may serve as evidence in a case of product liability, but in no way does it automatically establish the company’s liability for the plaintiff’s injuries. Users injured as a result of product-related defects may legally claim damages for medical treatment bills, lost earnings, and pain and suffering. Contact a competent products liability lawyer to understand your legal options.
The experienced product liability attorneys at Shapiro, Appleton & Washburn, help consumers secure maximum compensation for their catastrophic injuries as a result of a Peloton, or any other defective product. If you or your loved one is a victim of such injuries, call today at 800-752-0042 or contact us online for a free consultation to review your recall or refund case.