The lawsuit says Peters was using a Roll-A-Bout knee walker in March 2012 when it broke below the handlebar, three weeks after his initial surgery.
Lawyer Michael Trunk says Peters had to endure a second operation because of the setback. He missed the entire season.
Trunk says the product was sold for patients weighing up to 500 pounds, while Peters was listed at 340.
Lawyer Elizabeth Underwood, who represents the company, declined comment Wednesday. The suit was filed in federal court in Philadelphia.
Trunk says the 31-year-old, five-time Pro Bowler is eager to move past the lawsuit and focus on football.