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NordicTrack proprietor sues Peloton for allegedly stealing bike options

The lawsuit filed by Icon Health and Fitness on Thursday alleges patent infringement. Icon claims that two new options in Peloton’s Bike+ — a swiveling touchscreen and the bike mechanically altering resistance throughout courses — had been “developed and used by Icon well before Peloton.”

Icon stated it has a patent pending on the swivel display and maintain a patent on the resistance characteristic, which Peloton calls “auto-follow.” Both options are used on Icon’s present line of merchandise, which additionally contains iFit and FreeMotion manufacturers that make a number of kinds of fitness center tools together with bikes and treadmills.

The Peloton Bike+.

This is not the primary authorized skirmish between the rival corporations. In May, New York-based Peloton sued Icon, claiming it “attempted to free ride off Peloton’s innovative technology” as a result of it started broadcasting stay courses. Peloton has garnered a following with its leaderboard and social-media-famous instructors.

“As the fitness industry’s leading innovator, Icon is unfortunately accustomed to having companies copy its technology,” the Utah-based firm stated within the lawsuit. “Some companies, like Peloton, have built (at least in part) entire businesses on the back of Icon’s patented technology.”

The lawsuit additionally stated that in 2013, Peloton CEO John Foley met with Icon previous to the discharge of its authentic bike. He was allegedly in search of to make use of Icon’s patents for the bike, which Icon declined. The two corporations settled a earlier patent infringement lawsuit in 2017.

Peloton (PTON) stated in a press release that the brand new lawsuit is “nothing more than a continuation of the litigation that Peloton filed against Icon earlier this year, and is a retaliatory filing intended to deflect attention away from Icon blatant infringement of Peloton’s leaderboard technology and other deceptive practices.”

“We will vigorously defend this case in court,” stated Steven Feldman, Peloton’s exterior litigation counsel.

Bike+ was launched in September as a part of a broader product enlargement for the booming health firm.

It’s been an enormous yr for Peloton: Its inventory is up 360% this yr and subscriptions are rising at a speedy tempo as home-bound folks search a option to work out. The firm presently has a $40 billion market worth.
Although Icon does not get as a lot consideration in comparison with its buzzier rivals, the 43-year-old model just lately introduced a $200 million funding to additional develop its enterprise. That values the corporate at round $7 billion.
Gyms and health boutique studios, however, have struggled to coax folks again in. Town Sports, YogaWorks, Flywheel, Cyc Fitness and Gold’s Gym are simply among the chains which have filed for chapter and closed a number of areas.

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