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Why did peloton pay a $19 million fine?

(Ethan Miller/Getty Images) Peloton has agreed to pay a $19 million fine for failing to alert federal safety regulators to problems with its treadmills that were tied to the death of a 6-year-old and at least a dozen injuries, officials said Thursday. It’s among the largest civil penalties in the Consumer Product Safety Commission’s history.

What happened to peloton?

A rising star of the pandemic, Peloton saw its valuation soar to $50 billion at its peak, only to have it sink back down to levels below its September 2019 IPO in recent weeks.

Did peloton fail to report a hazardous defect?

Federal regulators said Peloton failed to immediately report a hazardous defect. Peloton has agreed to pay a $19 million fine as part of a settlement over its treadmill recall, the U.S. Consumer Product Safety Commission announced Thursday.

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