San Diego, CA -- (SBWIRE) -- 05/05/2023 -- The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors, who purchased shares of Celsius Holdings, Inc. (NASDAQ: CELH).

Investors who purchased shares of Celsius Holdings, Inc. (NASDAQ: CELH) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.