Monday, June 27, 2022

Peloton, NordicTrack maker iFit settle all patent lawsuits

Peloton Interactive and NordicTrack maker iFit said they have settled all pending lawsuits between them where fitness equipment makers have accused each other of infringing on their respective patents.

In a joint statement on Monday, the companies said that Peloton agreed to license certain iFit patents related to remote control technology, while iFit will remove certain on-demand leaderboard technology from its products.

Leaderboards compare how riders taking classes are performing relative to other riders, including in real time.

New York-based Peloton settled six days after reporting a record quarterly loss of $757.1 million, as it wrestled with dwindling demand for its bikes and treadmills, and more people resumed pre-pandemic activities. .

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Peloton sued Logan, Utah-based iFit, once known as Icon Health & Fitness, for violations related to its leaderboard technology in Delaware Federal Court in 2020 and 2021.

iFit filed complaints in 2021 and 2022, alleging that Peloton’s Bike+ infringed on a patent that allowed users to alternate between biking and lifting.
AP

Meanwhile, iFit filed complaints against Peloton in a Delaware court and the US International Trade Commission in 2021 and 2022, alleging that Peloton’s Bike+ infringed a patent that allowed users to alternate between biking and weightlifting .

The settlement also followed a Delaware judge’s May 13 dismissal of the Peloton lawsuit that accused iFit of trade secret theft.

The matter came to light after a freelance prop man working on a commercial shoot in October 2020 copied scripts for Peloton TV commercials and a related digital ad campaign to his childhood friend, an iFit mechanic.

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