Peloton settles pending litigation with rival Echelon

2 weeks ago 30

FILE PHOTO: A Peloton workout motorcycle is seen aft the ringing of the opening doorbell for the company's IPO astatine the Nasdaq Market tract successful New York City, September 26, 2019. REUTERS/Shannon Stapleton/File Photo

(Reuters) - Peloton Interactive Inc and rival Echelon Fitness connected Tuesday said they had settled each pending litigation betwixt them, much than 3 years aft Peloton sued the Tennessee-based fittingness institution for patent infringement.

Echelon has agreed to halt utilizing Peloton’s patented leaderboard exertion successful on-demand classes, the companies said successful a statement.

Additional presumption of the colony were not disclosed.

Peloton, known for its workout bikes with live-streaming and on-demand radical workouts, had filed the suit against Echelon Fitness successful 2019 alleging it infringed Peloton’s patents and sold “cheap, copycat” products.

Peloton escalated the quality successful 2021 by filing different suit for allegedly copying its remote-workout technology.

The New York-based institution had alleged Echelon bikes, treadmills and rowing machines infringed a patent covering a “control station”, related to a leaderboard that helps users comparison their performances during unrecorded classes.

Peloton was each the rage among fittingness enthusiasts during COVID-19 lockdowns, but with radical returning to gyms, the institution saw request for its fittingness instrumentality dwindle.

Shares of Peloton person mislaid astir 74% of their worth since the commencement of the year.

Reporting by Kannaki Deka successful Bengaluru; editing by Milla Nissi

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