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There are some funny things in the Risk Factors section: “We have identified material weaknesses in our internal control over financial reporting and if our re
by kgwgk 7y ago
There are some funny things in the Risk Factors section:
“We have identified material weaknesses in our internal control over financial reporting and if our remediation of such material weaknesses is not effective, or if we fail to develop and maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable laws and regulations could be impaired.”
There are also three long subsections about music licensing (edit: and music-related legal proceedings mentioned in multiple places).
- michaelvoz 7y agoSeems like standard boilerplate.
- uptown 7y ago"There are also three long subsections about music licensing." I'm a customer. I've noticed that some of their old classes are no longer available, presumably due to music licensing issues.
- timdorr 7y agoYup: https://www.cbsnews.com/news/peloton-lawsuit-fitness-company-sued-for-stealing-music/ https://www.cbsnews.com/news/peloton-lawsuit-fitness-company...
- stilist 7y agoThere’s also > In addition, customers of certain of our providers have been subject to litigation by third parties claiming that the service and basic HTTP functions infringe their patents. If we become subject to such claims, although we expect our provider to indemnify us with respect to at least a portion of such claims, the litigation may be time consuming, divert management’s attention, and, if our provider failed to indemnify us, adversely impact our operating results.