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CELH.US
id: 1407
Celsius Holdings (CELH) Misleading Revenue Case
S.D. Florida
Court9:24-cv-81472
Case number02/29/2024
Class period Start09/04/2024
Class period End01/21/2025
Lead Plaintiff motion deadline- $CELH investors filed a lawsuit against Celsius Holdings for misleading them about the company’s financial health.
- Following the disappointing financial results, $CELH dropped by over 11%.
Case Details:
In its Q1 2024 earnings call on May 9, 2024, Celsius emphasized its revenue growth as a result of expanded distribution and consumer demand, without disclosing that much of this growth came from overloading Pepsi with excess inventory.
By September 2024, it became clear that the excess shipments caused inventory pile-ups at Pepsi, leading to a sharp decline in future orders.
During this same period, between March and August 2024, Celsius executives, including CEO John Fieldly and CFO Jarrod Langhans, sold significant portions of their stock holdings.
Based on these events, $CELH shareholders filed a lawsuit against Celsius Holdings, accusing the company of the following:
- It misled investors by hiding unsold inventory and exaggerating revenue.
- It allowed executives to profit by selling shares at inflated prices.
Investors believe Celsius misled them by hiding unsold inventory and overstating revenue.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Fraud,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/04/2024
Filing date
11/22/2024
Lead Plaintiff Deadline
01/21/2025
Judge
Hon. Robin L. Rosenberg