NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Celsius Holdings, Inc. (“Celsius” or the “Company”) (NASDAQ: CELH) in the United States District Court for the Southern District of Florida on behalf of all persons and entities who purchased or otherwise acquired Celsius securities between February 29, 2024 and September 4, 2024, both dates inclusive (the “Class Period”). Investors have until January 21, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that throughout the class period, Defendants failed to disclose that: (1) 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; (2) 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; (3) Celsius' sales rate to Pepsi was unsustainable and created a misleading impression of Celsius' financial performance and outlook; and (4) 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.
If you purchased or otherwise acquired Celsius shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
