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.
About Peloton
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.
About Echelon
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
press@onepeloton.com
Peter Stabler, Investor
Relations, Peloton
investor@onepeloton.com
Marissa Mastellone, Echelon
marissa@misfittoyscomms.com
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SOURCE Peloton