The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Celsius Holdings, Inc. (NASDAQ: CELH) who purchased shares between August 12, 2021 and March 1, 2022. The action, which was filed in the United States District Court for the Southern District of Florida, alleges that the Company violated federal securities laws.
In particular, the Celsius lawsuit alleges that (1) the Company had improperly recorded expenses for non-cash share-based compensation for second and third quarters of 2021; (2) 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) there was a material weakness in Celsius’s internal controls over financial reporting; and (4) 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.
Shareholders have until May 16, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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