NEW ORLEANS, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 21, 2025 to file lead plaintiff applications in a securities class action lawsuit against Celsius Holdings, Inc. (the “Company”) (NasdaqCM: CELH), if they purchased the Company’s shares between February 29, 2024 and September 4, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Florida.
What You May Do
If you purchased shares of Celsius Holdings and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-celh/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 21, 2025.
About the Lawsuit
Celsius Holdings and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (1) the Company materially oversold inventory to PepsiCo, Inc. (“Pepsi”) far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius’ sales would materially decline in future periods, hurting Celsius’ financial performance and outlook; (3) the Company’s sales rate to Pepsi was unsustainable and created a misleading impression of its financial performance and outlook; (4) as a result, the Company’s business metrics and financial prospects were not as strong as indicated in defendants’ Class Period statements; and (5) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The case is Shelby Township Police & Fire Retirement System v. Celsius Holdings, Inc., et al., No. 24-cv-81472.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
