Mayville Engineering Company (MEC) Announces $25.5M Settlement Agreement

Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it has entered into a formal Settlement Agreement (the “Agreement”) that will resolve a previously-disclosed lawsuit with Peloton Interactive, Inc. (“Peloton”). Under the terms of the Agreement, MEC and Peloton have agreed to dismiss the lawsuit and exchange mutual releases, and MEC will receive a gross payment of $25.5 million from Peloton, with no admission of liability by either party. The Agreement was executed as of October 28, 2024.

You May Also Be Interested In

• Diginex reports 77% revenue rise but $31M net loss in FY2026
• Synchrony names former Citi executive as chief AI officer
• Duke Energy restores 85% of Cincinnati storm outages