Business

Peloton Recalls Bike Pedals That Can Break Unexpectedly; Rivals File Lawsuit


The Consumer Product Safety Commission posted a recall notice Thursday for clip-in pedals that can break unexpectedly when in use and lead to injury.


The maker of NordicTrack and other in-home fitness brands has sued Peloton, claiming its cycling rival stole features for its newest stationary bike.


Icon said it has a patent pending on the swivel screen and hold a patent on the resistance feature, which Peloton calls “auto-follow.” Both features are used on Icon’s current line of products, which also includes iFit and FreeMotion brands that make several varieties of gym equipment including bikes and treadmills.


The lawsuit also said that in 2013, Peloton CEO John Foley met with Icon prior to the release of its original bike.


Although Icon doesn’t get as much attention compared to its buzzier rivals, the 43-year-old brand recently announced a $200 million investment to further grow its business.


Town Sports, YogaWorks, Flywheel, Cyc Fitness and Gold’s Gym are just some of the chains that have filed for bankruptcy and closed several locations.






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