said it "determined that a corrective action plan is warranted" for the potential issue with the seat posts during its third quarter.
There have been nearly three dozen instances of seat post breaks, 12 of which involved injuries, according to the filing. One person broke their wrist in an incident. Jen Van Santvoord rides her Peloton exercise bike at her home on April 07, 2020 in San Anselmo, California. Peloton reported the corrective action plan for the issue had brought a $8.4 million "estimated contingent loss expense" in the quarter. The expenses "were not material to the current period financial performance," the company said in the filing.
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