The brake levers imported from China by the Morgan Hill, Calif., firm, have adjuster caps and brake cables that can slide out of position, making the brake "non-operational," the commission said in a statement.
The recalled involves Tektro TL-83 brake levers, which are designed exclusively for use with aerodynamic handlebars.
They were imported from China and sold as original equipment on 2010 and 2011 S-Works Shiv bicycle frame modules and 2012 S-Works Shiv TT bicycle frame modules.
They were also sold as aftermarket service parts from April 2010 through February 2012.
The bicycle frame modules sold for between $5,500 and $6,100. Separately, the brake levers sold for about $80.
Consumers were advised to stop riding bicycle frame modules equipped with TL-83 brake levers and return the levers to authorized Specialized Bicycle Components retailers for free replacements.
Consumers can call 877-808-8154 for information.