Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Celsius Holdings, Inc. (“Celsius” or the “Company”) (NASDAQ: CELH) on behalf of Celsius stockholders. Our investigation concerns whether Celsius has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 1, 2022, Celsius disclosed that it could not timely file its 2021 annual report due to “staffing limitations, unanticipated delays and identified material errors in previous filings.” Specifically, Celsius “determined that the calculation and expense of non-cash share-based compensation, related to grants of stock options and restricted stock units awarded to certain former employees and retired directors were materially understated for the three and six month periods ended June 30, 2021 and three and nine month periods ended September 30, 2021.” As a result, management concluded that there was a material weakness in the Company’s internal controls over financial reporting.
On this news, Celsius’ stock fell as much as 10% during after-hours trading on March 1, 2022.
If you purchased or otherwise acquired Celsius shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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