NEW YORK and CHATTANOOGA, Tenn., Nov. 8, 2022 /PRNewswire/ -- Peloton Interactive, Inc. (NASDAQ: PTON) and Echelon announce today the settlement of all pending litigation between them. All pending actions will be dismissed. As a result of this global settlement, Echelon has agreed that it will cease using Peloton's patented leaderboard technology in on-demand classes. The parties are pleased to put the litigation behind them and will have no further comment.
Peloton (NASDAQ: PTON) is the leading connected fitness platform with a loyal community of nearly 7 million Members worldwide. A category innovator at the nexus of fitness, technology, and media, Peloton's first-of-its-kind subscription platform seamlessly combines innovative hardware, distinctive software, and exclusive content. Its world-renowned instructors, coach and motivate Members to be the best version of themselves anytime, anywhere. Founded in 2012 and headquartered in New York City, Peloton continues to scale across the US, UK, Canada, Germany, and Australia. For more information, visit www.onepeloton.com.
Echelon, a complete connected at-home fitness solution, has grown since its inception in 2017 to a full range of smart exercise equipment, including bikes, rowers, treadmills, fitness mirrors and an immersive membership experience. With a network of professional trainers, live studios across the world and thousands of hours of on demand programming, what began as a mission to make healthy living accessible to all has evolved to a thriving, global brand. For more information, visit www.echelonfit.com.
Contacts:
Ben Boyd, Communications, Peloton
[email protected]
Peter Stabler, Investor Relations, Peloton
[email protected]
Marissa Mastellone, Echelon
[email protected]
SOURCE Peloton
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