Mayville Engineering to receive $25.5M settlement agreement

Mayville Engineering (MEC) “announced that it has entered into a formal Settlement Agreement that will resolve a previously-disclosed lawsuit with Peloton Interactive (PTON). 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.”