SAN DIEGO, Nov. 22, 2024 /PRNewswire/ — Robbins LLP announces that a shareholder filed a class action on behalf of all purchasers of Celsius Holdings, Inc. (NASDAQ: CELH) common stock between February 29, 2024 and September 4, 2024. Celsius is a holding company that develops, processes, markets, distributes, and sells energy drinks and liquid supplements in the United States and internationally.
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The Allegations: Robbins LLP is Investigating Allegations that Celsius Holdings, Inc. (CELH) Misled Investors Regarding its Business Prospects
According to the complaint, during the class period, defendants failed to disclose that: (a) Celsius materially oversold inventory to Pepsi far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (b) as Pepsi drew down significant amounts of inventory overstock, Celsius’ sales would materially decline in future periods, hurting the Company’s financial performance and outlook; (c) Celsius’ sales rate to Pepsi was unsustainable and created a misleading impression of Celsius’ financial performance and outlook; and (d) as a result, Celsius’ business metrics and financial prospects were not as strong as indicated in defendants’ class period statements. When the truth came out, the price of Celsius’ stock dropped, harming investors.
What Now: You may be eligible to participate in the class action against Celsius Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 21, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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SOURCE Robbins LLP
