Memorandum & Order — Wilson v. Peloton

Record facts

U.S. District Court for the Eastern District of New York · No. 1:21-cv-02369-CBA-PK · Doc. 113 · 2025-07-29 · Docket on CourtListener

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A Memorandum & Order by United States District Judge Carol Bagley Amon in In re Peloton Interactive, Inc., Securities Litigation, No. 1:21-cv-02369-CBA-PK, in the U.S. District Court for the Eastern District of New York, filed July 29, 2025 as Doc. 113. It addresses the Lead Plaintiff's unopposed Motion for Disbursement of Funds filed April 25, 2025, referred to Magistrate Judge Peggy Kuo. The order recounts her May 21, 2025 report and recommendation, which found late but eligible claims do not delay distribution, five claimants seeking review are ineligible, a January 6, 2025 claims deadline is reasonable, and further claims against the net settlement fund are barred. Finding no objection and no clear error under 28 U.S.C. § 636(b)(1)(C), the court adopts the recommendations in full and directs the Clerk to close the case.

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1 
UNITED STATES DISTRICT COURT 
EASTERN DISTRICT OF NEW YORK 
----------------------------------------------------------x 
IN RE PELOTON INTERACTIVE, INC., 
SECURITIES LITIGATION    
----------------------------------------------------------x 
NOT FOR PUBLICATION 
MEMORANDUM & ORDER 
21-cv-2369 (CBA) (PK)
AMON, United States District Judge: 
On April 25, 2025, Richard Neswick (“Lead Plaintiff”) filed an unopposed Motion for 
Disbursement of Funds. (ECF Docket Entry (“D.E.”) # 108.)  I referred Lead Plaintiff’s motion to 
the Honorable Judge Peggy Kuo, United States Magistrate Judge, for report and recommendation.  
(Text Order dated April 29, 2025.)  On May 21, 2025, Magistrate Judge Kuo issued a report and 
recommendation finding that: (1) the inclusion of late but eligible claims does not delay the 
distribution to those who timely filed authorized claims; (2) the five claimants that requested 
judicial review have a recognized loss of zero and are ineligible to receive a distribution of the net 
settlement fund; (3) a deadline of January 6, 2025 for all claims is reasonable and those submitted 
after the aforementioned date are ineligible to receive distribution; and (4) any further claims made 
against the net settlement fund beyond the amount allocated to authorized claimants are barred and 
all claims arising out of the administration of this settlement are to be discharged.  (See generally 
D.E. # 112 (“R&R”).)
In deciding whether to adopt a report and recommendation, a district court “may accept, 
reject, or modify, in whole or in part, the findings or recommendations made by the magistrate 
judge.” 28 U.S.C. § 636(b)(1)(C). To accept those portions of the report and recommendation to 
which no timely objection has been made, “a district court need only satisfy itself that there is no 
Case 1:21-cv-02369-CBA-PK     Document 113     Filed 07/29/25     Page 1 of 2 PageID #:
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s/Carol Bagley Amon
• clear error on the face of the record." Jarvis v. N. Am. Globex Fund, L.P., 823 F. Supp:2d 161, • 
163 (E.D.N.Y. 2011) (quoting Wilds v. United Parcel Se~., 262 F. Supp. 2d 163, 169 (S.D~N.Y. : . 
. 2003)). 
Neither party has objected to the R&R and the time for doing so has passed . . After • 
• reviewing the record, I find no clear error in Magistrate Judge Kuo's recommendations, so I adopt .·• 
. 
. 
• them in full. Accordingly, the settlement funds are to be distributed as recommended in Magjstrate 
Judge Kuo's R&R and the Clerk of Court is respectfully directed to close this case. 
·. SO ORDERED. 
• Dated: JulyM2025 
• 
Brooklyn, New York 
2 
op 
United States Distr'i~ Judge 
Case 1:21-cv-02369-CBA-PK     Document 113     Filed 07/29/25     Page 2 of 2 PageID #:
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