Peloton has agreed to pay a penalty of more than $19 million after the Consumer Product Safety Commission said the exercise company failed to report hazards to using its treadmill, and sold previously recalled products.
of the Tread+ treadmill, but Peloton subsequently sold 38 more of the recalled treadmills via Peloton personnel and through third-party delivery firms, the CPSC said.
The commission unanimously approved the multimillion-dollar penalty, which was announced Thursday. In addition to the fine, Peloton must maintain a strict compliance program as part of its settlement with the Commission. "By acting with one voice, the CPSC sends a loud and clear warning to companies who continue to sell dangerous products that they know can cause serious injury or death," the chair of the safety commission, Alexander Hoehn-Saric, said in a statement."By failing to report these incidents to the Commission immediately, Peloton not only violated the Consumer Product Safety Act, but also consumers’ trust.
Peloton said in a statement that it was pleased to have reached a settlement and that “it continues to pursue the CPSC’s approval of a Tread+ rear guard that would further augment its safety features.” The company added it “remains deeply committed to the safety and well-being of our members and to the continuous improvement of our products.”
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