Class Action Lawsuit Filed Against Celsius Holdings, Inc.; Investors Have Until January 21, 2025 to Seek Lead Plaintiff Status
TL;DR
Lead plaintiff deadline for CELH lawsuit is January 21, 2025, giving advantage to early investors.
Celsius investors who suffered losses between Feb 29, 2024, and Sep 4, 2024, can seek lead plaintiff representation with Kessler Topaz Meltzer & Check, LLP.
Kessler Topaz Meltzer & Check, LLP aims to protect investors from corporate misconduct, seeking justice for victims of fraud and negligence.
Celsius Holdings, Inc. accused of overselling inventory to Pepsi, potentially leading to significant financial decline and misleading financial statements.
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Kessler Topaz Meltzer & Check, LLP has announced the filing of a securities class action lawsuit against Celsius Holdings, Inc. (NASDAQ: CELH), a beverage company known for its energy drinks. The lawsuit alleges that Celsius made false and misleading statements and failed to disclose material information between February 29, 2024, and September 4, 2024.
The legal action claims that Celsius significantly oversold inventory to Pepsi, creating an unsustainable sales situation that would lead to a substantial decline in future periods. According to the complaint, this practice resulted in a misleading impression of Celsius' financial performance and outlook. The lawsuit further alleges that the company's business metrics and financial prospects were not as strong as indicated in statements made during the class period.
This development is significant for investors and the broader beverage industry. It raises questions about inventory management practices and the potential risks associated with reliance on major distribution partners. The case also underscores the importance of transparent financial reporting and the potential consequences of overstating business performance.
Investors who purchased or acquired Celsius common stock during the specified period have until January 21, 2025, to seek appointment as a lead plaintiff in the class action. The lead plaintiff role is crucial in directing the litigation and representing the interests of the class members.
The lawsuit serves as a reminder of the legal and financial risks companies face when their disclosures and business practices come under scrutiny. It also highlights the mechanisms available to investors seeking to recover losses allegedly caused by corporate misconduct. As the case progresses, it may have implications for how beverage companies manage their relationships with major distributors and report their financial results to the market.
Curated from NewMediaWire
