Faruqi & Faruqi, LLP is investigating the claims on behalf of Celsius By Investing.com investors

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $75,000 in Celsius to contact him directly to discuss their options

If you have suffered losses greater than $75,000 Celsius between February 29, 2024 and September 4, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 05, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Celsius Holdings (NASDAQ:), Inc. (“Celsius” or the “Company”) (NASDAQ: CELH) and reminds investors of The deadline is January 21, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (1) Celsius substantially oversold PepsiCo (NASDAQ:) stock; Inch. (“Pepsi”) greatly exceeded demand and faced a looming decline in sales during which Pepsi would significantly reduce purchases of Celsius products; (2) as Pepsi reduced significant amounts of excess inventory, Celsius’ sales would decline significantly in future periods, harming Celsius’ financial results and prospects; (3) Celsius’ rate of sales to Pepsi was unsustainable and created a false impression of Celsius’ financial performance and prospects; (4) as a result, Celsius’ business metrics and financial outlook were not as good as indicated in Defendants’ statements about the class period; and (5) consequently, Defendants’ statements regarding the prospects and expected financial results of Celsius were false and misleading at all relevant times.

On May 27, 2024, Celsius’ stock price fell nearly 13% as analysts and investors digested some of the latest retail store trends reported by Nielsen.

Then, on September 4, 2024, the defendants disclosed, among other things, that Celsius’ sales to Pepsi had been reduced from “approximately [$]100 million to [$]120 million. . . of which [Pepsi] ordered last quarter,” that Celsius is “still seeing a reduction in these inventory levels” and that it was “increased” in the third quarter of 2024, and that “just to be precise with [$]100 million to [$]a figure of 120 million. . . we see roughly [$]100 million to [$]120 million less in orders for Pepsi in the third quarter of this year compared to the third quarter of last year.” On this news, Celsius’ share price rose by 11%.

Finally, on November 6, 2024, Celsius disclosed that Celsius’ total revenue for the third quarter of 2024 “was approximately $265.7 million, compared to $384.8 million for” the third quarter of 2023, a decrease of 31%. ; Celsius revenues in North America fell 33%; and his “‘[r]events from [Pepsi] reduced by $123.9 million,'” while “[c]currently, related promotional add-ons have created a headwind for retailers.” Celsius further disclosed that its quarterly “gross profit decreased by $71.9 million, or 37%”; that the quarterly “[g]gross profit margin was 46.0%. . . , a decrease of 440 basis points from 50.4% in the same period in 2023.”; and that “the decrease in gross profit was caused by promotional fees, incentives and other chargebacks as a percentage of gross revenue” resulting from the Pepsi withdrawal. On this news , the Celsius share price fell an additional 5%.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of the class members who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Celsius’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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To view the original version of this press release, visit https://www.newsfilecorp.com/release/236002