Celsius Holdings, Inc. Faces Class Action Lawsuit
In a significant legal development, Celsius Holdings, Inc. (NASDAQ: CELH) is currently embroiled in a class-action lawsuit filed by The Gross Law Firm. This lawsuit raises serious allegations regarding violations of securities laws during a defined class period. Shareholders who acquired shares of CELH between February 29, 2024, and September 4, 2024, are encouraged to consider their rights and options under the law.
Allegations Detailed
The central allegations against Celsius Holdings suggest that the company's executives made materially false statements and intentionally concealed crucial information from investors, misleading them about the company’s actual performance and financial conditions. Specific points outlined in the complaint include:
1.
Disinformation on Business Viability: The lawsuit asserts that Celsius misled the public regarding its operational prospects, creating a facade of stability and growth.
2.
Stock Price Manipulation: Allegations indicate that the company's actions artificially inflated the market price of its common stock, heavily impacting shareholders' investment decisions.
3.
Insider Selling: Notably, the lawsuit claims that key officials and insiders sold over 21.6 million shares of Celsius stock during the inflated period, reaping profits exceeding $1.4 billion at the expense of regular investors.
4.
Investor Losses: The plaintiffs argue that these actions caused them to purchase shares at inflated prices, resulting in significant financial losses once the truth emerged.
Key Deadlines for Shareholders
Shareholders affected by this situation should be aware of the approaching deadline to register for participation in the lawsuit. January 21, 2025, is the last day to enroll as a potential lead plaintiff. It's essential for investors to act promptly to secure their rights and explore possible recovery avenues.
To facilitate the registration process, The Gross Law Firm provides a streamlined online platform where affected shareholders can submit their information and awareness of their status in the lawsuit. Being part of this class action does not incur any costs or obligations for shareholders, making it a practical decision for those impacted.
Why the Gross Law Firm?
The Gross Law Firm stands out as a nationally recognized entity specializing in class actions and has a strong commitment to protecting the rights of investors. Their mission underscores a broader goal of ensuring that corporate entities engage in transparent and responsible business practices. By leading this case, the firm aims to hold Celsius accountable for its alleged misconduct and seek compensation for aggrieved investors.
This lawsuit serves as a reminder of the utmost importance of due diligence in investment decisions and the potential repercussions of misleading corporate practices. Shareholders of Celsius Holdings, Inc. should stay informed and consider the implications of this lawsuit as it unfolds.
For further information or to register for this class action lawsuit, shareholders can visit the following link:
Register Here.