Peloton is recalling its Tread+ and Tread treadmills due to safety concerns and one person dying.
On Wednesday, Peloton’s CEO apologized for not putting a stop to the sale of the products despite the Consumer Product Safety Commission (CPSC) recommending it last month. In a joint statement, the company said customers should immediately stop using the products and contact Peloton for a full refund “or” another “qualified remedy.”
The entire incident resulted in shares of the company dropping by 8 percent. “The agreement between CPSC and Peloton is the result of weeks of intense negotiation and effort, culminating in a cooperative agreement that I believe serves the best interests of Peloton and of consumers,” Robert Adler, the commission’s acting chairman, said in the statement.
This all comes after the CPSC issued an “urgent warning” telling parents to stop using the Peloton Tread+ after 39 incidents were reported about small children getting hurt, NBC News reports.
“CPSC staff believes the Peloton Tread+ poses serious risks to children for abrasions, fractures, and death. In light of multiple reports of children becoming entrapped, pinned, and pulled under the rear roller of the product, CPSC urges consumers with children at home to stop using the product immediately,” according to an April press release.
Peloton said that he was “shocked and devastated” after learning about the child’s death. However, it stated that the report on the incident was “inaccurate and misleading.”
“There is no reason to stop using the Tread+, as long as all warnings and safety instructions are followed,” said the company in a statement back in April. On Wednesday, Peloton CEO John Foley amended the statement that was previously released. So far, there have been a total of 70 incidents. The company said it would be working with the commission to set new industry safety standards for its treadmills. “We have a desire and a responsibility to be an industry leader in product safety,” said the company.
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