Due to a problem with the seat, Peloton calls back 2.2 million bikes.

More than 2 million Peloton bikes are being recalled by the U.S. Consumer Product Safety Commission because they could hurt people or cause them to fall.

Thursday, shares of Peloton fell.The company has changed its tune by saying that it wants to work with the CPSC.

Thursday, Peloton's stock dropped after the U.S. Consumer Product Safety Commission said it was recalling 2.2 million of the company's bikes because they could cause injuries or falls.

An internal Peloton memo says that 12 injuries, including a broken wrist, were recorded because of the faulty part. 

The company said that the recall does not affect bike users in the UK, Germany, or Australia.

The New York-based business will give updated seat posts for free to anyone who has the model that was recalled. Peloton said that even though only 35 breaks had been recorded, the problem could happen with any model of the bike sold in the U.S.

In the past, when Peloton found possible problems, it disagreed with the government and took a long time to work with officials. This time, the company has changed its tune by saying that it wants to work with the CPSC in a responsible way.

The news comes a week after the company said its third-quarter loss was bigger than expected. Notably, Peloton also said that its number of subscribers would go down for the first time ever, blaming an uncertain economy.

Some analysts said last week that the company is making some work on its plan to turn things around. This is because the company is pushing new business initiatives.

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