Celsius(CELH) Prnewswire·2025-01-11 20:14Lawsuit Overview - A securities class action lawsuit has been filed against Celsius Holdings, Inc (Celsius) on behalf of investors who purchased or acquired Celsius common stock between February 29, 2024, and September 4, 2024 [1] - The lead plaintiff deadline is January 21, 2025 [1] Alleged Misconduct - Defendants allegedly made false and/or misleading statements and/or failed to disclose material information during the Class Period [2] - Celsius materially oversold inventory to Pepsi far in excess of demand, leading to a looming sales cliff where Pepsi would significantly reduce purchases [2] - As Pepsi drew down significant amounts of inventory overstock, Celsius' sales would materially decline in future periods, hurting financial performance and outlook [2] - Celsius' sales rate to Pepsi was unsustainable and created a misleading impression of the company's financial performance and outlook [2] - As a result, Celsius' business metrics and financial prospects were not as strong as indicated in Defendants' Class Period statements [2] - Defendants' statements regarding Celsius' outlook and expected financial performance were false and misleading at all relevant times [2] Lead Plaintiff Process - Celsius investors may seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel by January 21, 2025 [3] - The lead plaintiff is usually the investor or small group of investors with the largest financial interest who are also adequate and typical of the proposed class [3] - The lead plaintiff selects counsel to represent the lead plaintiff and the class, and these attorneys, if approved by the court, are lead or class counsel [3] - The decision of whether or not to serve as a lead plaintiff does not affect an investor's ability to share in any recovery [3] About Kessler Topaz Meltzer & Check, LLP - The firm prosecutes class actions in state and federal courts throughout the country and around the world [4] - Kessler Topaz Meltzer & Check, LLP has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct [4] - The firm's work is driven by a common goal to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries [4] - The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP [4]