NEW ORLEANS, Nov. 27, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 21, 2025 to file lead plaintiff applications in a securities class action lawsuit against Celsius Holdings, Inc. (the “Company”) (NasdaqCM: CELH), if they purchased the Company’s shares between February 29, 2024 and September 4, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Florida.
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Celsius Holdings investors should visit us at https://claimsfiler.com/cases/us-trading-venue-celh-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Celsius Holdings and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (1) the Company materially oversold inventory to PepsiCo, Inc. (“Pepsi”) far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius’ sales would materially decline in future periods, hurting Celsius’ financial performance and outlook; (3) the Company’s sales rate to Pepsi was unsustainable and created a misleading impression of its financial performance and outlook; (4) as a result, the Company’s business metrics and financial prospects were not as strong as indicated in defendants’ Class Period statements; and (5) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The case is Shelby Township Police & Fire Retirement System v. Celsius Holdings, Inc., et al., No. 24-cv-81472.
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