Peloton, Flywheel settle disputes over fitness bike tech

Flywheel will recognize Peloton's patents and will pull the technology from its bikes within 60 days

A lawsuit of alleged technology theft has been settled between Peloton Interactive and Flywheel Sports.

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Financial terms of Peloton’s settlement with Flywheel weren't disclosed, according to the Wall Street Journal.

Peloton says hefty spending and years of development helped create its technology.

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Parts of the settlement include Flywheel will stop using the so-called leaderboard technology.

Peloton

Flywheel will also stop challenging the validity of Peloton's patents.

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Peloton will dismiss the lawsuit it filed against Flywheel in 2018.

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PTONPELOTON INTERACTIVE64.34-1.37-2.08%

Flywheel will recognize Peloton's patents and will pull the technology from its bikes within 60 days, according to a statement obtained by the Journal.

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Peloton has more than 500,000 active users.

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