Celsius Holdings, Inc. (NASDAQ: CELH)

This lawsuit is for anyone who acquired securities in of Celsius Holdings, Inc. (NASDAQ: CELH) from February 29, 2024 through September 4, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company sold significantly more product to Pepsico than the Company knew Pepsico needed creating a false picture of the Company’s repeatable revenues when Pepsico inevitably stopped buying as much product.

On May 27, 2024, Morgan Stanley reported that weekly retail data showed Celsius with slowed sales growth and cautioned that the Company faced difficult sales comparisons over the next several quarters as it rolled over the anniversary of its Distribution Agreement with Pepsi. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on September 4, 2024, the Company disclosed during a conference that Celsius’ sales to Pepsi were reduced from “roughly around [$]100 million to [$]120 million . . . from what [Pepsi] ordered last quarter,” and that Celsius was “still seeing these inventory levels being reduced” and that it had “increased” in the third quarter of 2024. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Celsius Holdings, Inc. (NASDAQ: CELH) from February 29, 2024 through September 4, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.