Peloton Faces Derivative Shareholder Suit
Plaintiff Moshe Genack is suing in E. NY federal court, accusing the connected fitness company’s board of directors of violating the Exchange Act and breaching fiduciary duties, among other charges. A derivative suit is brought by a shareholder ostensibly on behalf of a corporation, with any damages awarded going to the company, but the plaintiff and lawyers collect reasonable costs and fees. In ... Log in to view full article.