SAN DIEGO, Dec. 21, 2024 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP<\/strong><\/a> announces that purchasers of Celsius Holdings, Inc. (NASDAQ: CELH) common stock between February 29, 2024 and September 4, 2024, inclusive (the \u201cClass Period\u201d), have until Tuesday, January 21, 2025 to seek appointment as lead plaintiff of the Celsius <\/em>class action lawsuit. Captioned Shelby Township Police & Fire Retirement System v. Celsius Holdings, Inc.<\/em>, No. 24-81472 (S.D. Fla.), the Celsius <\/em>class action lawsuit charges Celsius and certain of Celsius\u2019 top executive officers with violations of the Securities Exchange Act of 1934.<\/p>\n If you suffered substantial losses and wish to serve as lead plaintiff of the <\/strong>Celsius <\/em><\/strong>class action lawsuit, please provide your information here:<\/strong><\/p>\n https:\/\/www.rgrdlaw.com\/cases-celsius-holdings-class-action-lawsuit-celh.html<\/strong><\/a><\/p>\n You can also contact attorneys <\/strong>J.C. Sanchez<\/strong><\/a> or <\/strong>Jennifer N. Caringal<\/strong><\/a> of Robbins Geller by calling 800\/449-4900 or via e-mail at <\/strong>info@rgrdlaw.com<\/strong><\/a>.<\/strong><\/p>\n CASE ALLEGATIONS<\/strong>: Celsius is a holding company that develops, processes, markets, distributes, and sells energy drinks and liquid supplements.<\/p>\n The Celsius <\/em>class action lawsuit alleges that throughout the Class Period defendants made false and\/or misleading statements and\/or failed to disclose that: (i) Celsius materially oversold inventory to PepsiCo, Inc. (\u201cPepsi\u201d) far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (ii) as Pepsi drew down significant amounts of inventory overstock, Celsius\u2019 sales would materially decline in future periods, hurting Celsius\u2019 financial performance and outlook; (iii) Celsius\u2019 sales rate to Pepsi was unsustainable and created a misleading impression of Celsius\u2019 financial performance and outlook; (iv) as a result, Celsius\u2019 business metrics and financial prospects were not as strong as indicated in defendants\u2019 Class Period statements; and (v) consequently, defendants\u2019 statements regarding Celsius\u2019 outlook and expected financial performance were false and misleading at all relevant times.<\/p>\n On May 27, 2024, the price of Celsius stock fell nearly 13% as analysts and investors digested some of the latest retail store trends reported by Nielsen.<\/p>\n Then, on September 4, 2024, defendants revealed, among other things, that Celsius\u2019 sales to Pepsi were reduced from \u201croughly around [$]100 million to [$]120 million\u00a0.\u00a0.\u00a0. from what [Pepsi] ordered last quarter,\u201d that Celsius was \u201cstill seeing these inventory levels being reduced\u201d and that it had \u201cincreased\u201d in the third quarter of 2024, and that \u201cjust to be precise with the [$]100 million to [$]120 million figure, . . . we\u2019re seeing approximately [$]100 million to [$]120 million less in orders to Pepsi in Q3 this year versus Q3 last year.\u201d On this news, the price of Celsius stock fell more than 11%.<\/p>\n Finally, on November 6, 2024, Celsius disclosed that Celsius\u2019 overall third quarter of 2024 \u201crevenue was approximately $265.7 million, compared to $384.8 million for the\u201d third quarter of 2023, a 31% decline; Celsius\u2019 North American revenues fell 33%; and its \u201c\u2018[r]evenue from [Pepsi] declined $123.9 million,\u2019\u201d while \u201c[c]oncurrently, related retailer promotional allowances created revenue headwinds.\u201d Celsius further revealed that its quarterly \u201cgross profit decreased by $71.9 million, or 37%\u201d; that its quarterly \u201c[g]ross profit margin was 46.0%\u00a0.\u00a0.\u00a0. , a 440 basis point decrease from 50.4% for the same period in 2023\u201d; and that the \u201cdecrease in gross profit was due to promotional allowances, incentives, and other billbacks as a percentage of gross revenue\u201d resulting from Pepsi\u2019s drawdown. On this news, the price of Celsius stock fell an additional 5%.<\/p>\n The plaintiff is represented by Robbins Geller, which has extensive experience<\/strong><\/a> in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here<\/strong>.<\/a><\/p>\n THE LEAD PLAINTIFF PROCESS<\/strong>: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Celsius common stock during the Class Period to seek appointment as lead plaintiff in the Celsius <\/em>class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Celsius <\/em>class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Celsius <\/em>class action lawsuit. An investor\u2019s ability to share in any potential future recovery of the Celsius <\/em>class action lawsuit is not dependent upon serving as lead plaintiff.<\/p>\n ABOUT ROBBINS GELLER<\/strong>: Robbins Geller Rudman & Dowd LLP is one of the world\u2019s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases \u2013 over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs\u2019 firms in the world and the Firm\u2019s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever \u2013 $7.2 billion \u2013 in In re Enron Corp. Sec. Litig.<\/em> Please visit the following page for more information:<\/p>\n
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