An investigation on behalf of investors in Celsius Holdings, Inc. (NASDAQ:CELH) shares over potential wrongdoing at Celsius Holdings, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 09/18/2023 -- Certain directors of Celsius Holdings, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Celsius Holdings, Inc. (NASDAQ: CELH) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Celsius Holdings, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
On March 16, 2022, a lawsuit was filed for certain investors in Celsius Holdings, Inc. (NASDAQ: CELH) shares. The plaintiff alleges that the Defendants failed to disclose to investors that the Company had improperly recorded expenses for non-cash share-based compensation for second and third quarters of 2021, that, 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,that there was a material weakness in Celsius's internal controls over financial reporting, and that 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.
On June 8, 2022, an amended complaint was filed and on August 5, 2022, the defendants filed a Motion to Dismiss the amended Complaint.
On March 22, 2023, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
Those who purchased shares of Celsius Holdings, Inc. (NASDAQ: CELH) have certain options and should contact the Shareholders Foundation.
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