#United States #New York #Class Action #Levi & Korsinsky #Celsius Holdings

Levi & Korsinsky Notifies Celsius Investors of Upcoming Class Action Deadline

In a significant announcement, Levi & Korsinsky, LLP has reached out to shareholders of Celsius Holdings, Inc. regarding an important deadline for a lead plaintiff in an ongoing class action lawsuit. Investors who faced losses from February 29, 2024, to September 4, 2024, due to supposed securities fraud have a chance to participate. The deadline to file for lead plaintiff status is set for January 21, 2025.

Background on the Lawsuit

The class action aims to recover losses for Celsius investors, who may have been negatively impacted by misleading statements and practices from the company. Specifically, the lawsuit alleges that Celsius misrepresented its business prospects and financial performance, ultimately misleading investors and inflating stock prices. This deception allegedly allowed certain officers and insiders to sell over 21.6 million shares, amassing a reported $1.4 billion in personal gains at the expense of other shareholders.

Allegations Against Celsius

The complaint asserts that the defendants intentionally concealed crucial information from the public. Key accusations include:
1. Misleading Public Statements: Celsius allegedly made deceptive claims about its business viability, impacting investor decisions.
2. Artificially Inflated Stock Price: The company's actions purportedly led to inflated stock prices that did not reflect its true value.
3. Insider Trading: Some executives reportedly profited significantly by selling their shares at elevated prices, undermining the integrity of the market and harming regular investors who bought into the stock.

Overall, these actions may have led many investors to purchase shares at inflated prices, thus suffering financial damage once the realities of the company’s operations were disclosed.

What Investors Should Do

Investors who believe they may qualify as members of this class have until January 21, 2025, to request that the court appoint them as lead plaintiffs. Importantly, becoming a lead plaintiff is not a requirement to receive compensation, as class members are still entitled to potential recoveries without assuming that role.

For those who lost money on their Celsius investments during the specified period, there are no costs or obligations to participate in the lawsuit. Levi & Korsinsky assures that class members might be able to reclaim damages without any upfront expenses.

Why Choose Levi & Korsinsky?

With a strong history of success in securities litigation stretching over two decades, Levi & Korsinsky has been instrumental in securing hundreds of millions for wronged shareholders. Their expertise, coupled with a dedicated team of over 70 professionals, positions them well to represent investors in this complex situation. The firm has been recognized in the Top 50 Report by ISS Securities Class Action Services for seven consecutive years, highlighting their commitment and effectiveness.

Contact Information

Shareholders looking for more information about the lawsuit or who wish to discuss their situations can reach out to Joseph E. Levi, Esq. via email at [email protected] or by phone at (212) 363-7500. Further details and updates about the case can be located on their official site.

As the court date approaches, it remains essential for affected investors to stay informed and consider their legal options carefully. The outcome of this matter could significantly impact the financial recovery for those involved, making timely action even more critical.

Conclusion

The Celsius lawsuit serves as a cautionary tale for investors in the stock market. Understanding your rights as a shareholder and keeping track of significant developments like these is vital for protecting your investments. Levi & Korsinsky's involvement promises a robust challenge against any wrongdoing, reaffirming their dedication to investors’ rights.

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