Peloton is recalling its Tread+ and Tread treadmills, the at-home fitness company said on Wednesday, less than a month after it fought the U.S. Consumer Product Safety Commission as it warned that dozens of injuries and one death of a child had been linked to the machines.
The commission, which issued an “urgent warning” for the machines in April, urged people who own the treadmills to immediately stop using them. Peloton is offering a full refund for the $4,295 machine with a 32-inch touch screen that allows runners to work out with the aid of instructors.
John Foley, the chief executive of Peloton, said in a statement Wednesday that the company had “made a mistake” by fighting the agency’s request to recall the treadmills, and apologized for not engaging “more productively with them from the outset.”
“The decision to recall both products was the right thing to do for Peloton’s members and their families,” he said.
more than quadrupled to more than $40 billion.
The shares have fallen from their highs as concerns about the safety of Peloton’s treadmills mounted. On Wednesday, the stock slid as much as 15 percent following news of the recall.
In October, the company recalled about 27,000 of its bikes sold between July 2013 and May 2016 after it received reports of broken pedals causing injuries.