While riders were busy hitting miles on September 12, 2019, Peloton (an exercise bike company) was slammed with an amended complaint for double damages in a copyright infringement suit.
In March 2019, the National Music Publishers Association (NMPA) filed suit against Peloton for using over 1,000 songs on their exercise equipment from various artists without a license. In response to recent discovery findings of usage of an additional 1,200 songs, the NMPA asked courts to double their claim from $150 million to $300 million.
Peloton filed counterclaims, asserting that the NMPA violated antitrust law. The counterclaim is the result of Peloton accusing the NMPA of instigating “A coordinated effort . . . to fix prices and engage in a concerted refusal to deal with Peloton.” The NMPA moved to dismiss the counterclaims, but a court has yet to rule on this motion.
The suit came in accompaniment with Peloton announcing a scheduled stock market launch of $26 and $29 per share of stock to increase company’s value. Peloton asserts they will continue to defend themselves against all claims in this matter and continue to peruse the counterclaims.