The shareholders of Peloton Interactive are being asked to participate in a common class action suit against the company, accusing it and its top executives of violating federal securities laws in connection with the death on March 17 of a child trapped under one of the company’s Tread+ home treadmills. It charges Peloton’s chief executive officer and chief financial officer, John Foley and Jill Woodworth, of making false and misleading statements. Specifically, it accuses Foley of failing to disclose that at least 39 other injuries had occurred when he sent out a letter on March 18 to Tread+ owners, warning them that they should keep children away from the equipment. On Apr. 17, the U.S. Consumer Product Safety Commission (CPSC) recommended that consumers with small children should not use the Tread+. It also found that Tread+ users run the risk of losing their balance. Foley then issued a statement criticizing the CPSC’s unilateral action as being “inaccurate and misleading,” and added that Peloton had no intention of recalling the product, leading to a further drop of 14 percent in the company’s share price. It had already fallen from a year-to-date high of $167 on Jan. 13 to $101 on March 8, and it is now trading at around $96. The share price had risen by more than 350 percent during 2020. The proposed class action, which was filed in the Eastern District Court of New York by the law office of Robbins Geller Rudman & Dowd on April 29, gives shareholders 30 days to join as plaintiffs.