NEW YORK, March 09, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Cano Health, Inc. (NYSE: CANO) and Celsius Holdings, Inc. (NASDAQ: CELH). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Cano Health, Inc. (NYSE: CANO)
On February 28, 2022, Cano issued a press release “announc[ing] it will delay its fourth quarter and full year 2021 earnings release, conference call and 2022 guidance updates, previously scheduled for Monday, February 28, 2022.”
Cano stated that it “currently anticipates filing a Form 12b-25, Notification of Late Filing, no later than March 2, 2022, which will provide the Company with a 15-day calendar extension to file its Form 10-K” and “expects to report fourth quarter and full year 2021 earnings, as well as increased full year 2022 guidance, on or before March 16, 2022, the expiration date of the extension period.”
On this news, Cano’s stock price fell $0.32 per share, or 6.17%, to close at $4.87 per share on February 28, 2022.
For more information on the Cano investigation go to: https://bespc.com/cases/CANO
Celsius Holdings, Inc. (NASDAQ: CELH)
On March 1, 2022, Celsius disclosed that it could not timely file its 2021 annual report due to “staffing limitations, unanticipated delays and identified material errors in previous filings.” Specifically, Celsius “determined that the calculation and expense of non-cash share-based compensation, related to grants of stock options and restricted stock units awarded to certain former employees and retired directors were materially understated for the three and six month periods ended June 30, 2021 and three and nine month periods ended September 30, 2021.” As a result, management concluded that there was a material weakness in the Company’s internal controls over financial reporting.
On this news, Celsius’ stock fell as much as 10% during after-hours trading on March 1, 2022.
For more information on the Celsius investigation go to: https://bespc.com/cases/CELH
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.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
