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Below are a number of articles on Peloton, the fitness company, and the troubles they’ve faced over the last few months. Included in these articles is information about the fallout from the death of one of the fictional characters on the Sex and The City reboot (“And just like that….”) shortly after he got off his Peloton. As the New York Times article says, Peloton stock dropped 11% overnight after the show premiered.
You are a Peloton stockholder. At the previous annual meeting of the company, you voted for the current Board of Directors, believing that they would usher the company into the future and continue it’s meteoric growth. You are disappointed to say the least. You have slowly divested yourself of your Peloton stock, keeping a small amount in the hope that the company will make a come back.
However, you have been talking to various other stockholders you know, and you no longer believe that the current Board of Directors, nor the CEO, are doing what they can to improve the company. In fact, they’re making the situation worse! After the “And just like that….” episode, they made a quick new commercial to advertise the health benefits of cycling…only to have to remove the commercial less than a week later when the actor in the commercial was accused of sexual assault.
You and the other stockholders decide to sue Peloton in a derivative suit, as explained in the Business Organizations slidedeck. Please prepare a letter to the Company outlining your position, how you are able to bring a derivative suit, and how you believe you have been harmed.
Your letter should be 1-2 pages.
https://www.cnbc.com/2021/12/12/peloton-fires-back-at-its-portrayal-in-sex-and-the-city-reboot-with-own-parody-ad.html
https://www.theverge.com/2021/12/17/22841034/peloton-viral-ads-sex-and-the-city-mr-big-chris-noth-sexual-assault
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