SAN DIEGO, March 16, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Celsius Holdings, Inc. (NASDAQ: CELH). The class action is on behalf of shareholders who purchased Celsius securities between August 12, 2021 and March 1, 2022, inclusive (the “Class Period”). To serve as lead plaintiff in this class action, you must move the Court no later than 60 days from this notice.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
To join this action, you can click or copy and paste the link below in a browser:
https://www.cognitoforms.com/JohnsonFistel/CelsiusHoldingsInc2
There is no cost or obligation to you.
The complaint alleges that defendants failed to disclose to investors: (1) that the Company had improperly recorded expenses for non-cash share-based compensation for the second and third quarters of 2021; (2) that, as a result, the Company's financial statements for those periods would be restated, including to report a net loss for the third quarter of 2021; (3) that there was a material weakness in Celsius's internal controls over financial reporting; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. As a result of Defendants' wrongful acts and omissions, and the abrupt decline in the market value of the Company's securities, Plaintiff and other Class members have suffered significant losses and damages.
A lead plaintiff will act on behalf of all other class members in directing the Celsius class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Celsius class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
