Celsius Holdings, Inc. (NASDAQ: CELH) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Celsius Holdings, Inc. (“Celsius”) (NASDAQ: CELH) securities between May 9, 2023 and November 5, 2024, inclusive (the “Class Period”). 

Celsius is an energy drink company that entered into a distribution agreement with PepsiCo, Inc. (“Pepsi”), whereby Pepsi would invest in Celsius and become its primary U.S. distributor and exclusive Canadian distributor.

The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Celsius materially oversold inventory to Pepsi far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products; (2) as Pepsi drew down significant amounts of inventory overstock, Celsius’ sales would materially decline in future periods, hurting Celsius’ financial performance and outlook; (3) Celsius’ sales rate to Pepsi was unsustainable and created a misleading impression of Celsius’ financial performance and outlook; (4) as a result, Celsius’ business metrics and financial prospects were not as strong as indicated in Defendants’ Class Period statements; and (5) consequently, Defendants’ statements regarding Celsius’ outlook and expected financial performance were false and misleading at all relevant times.

Current Status of Case:
On June 13, 2025, Defendants filed a Motion to Dismiss the Amended Complaint, and  on December 4, 2025, the Magistrate Judge filed a Report and Recommendation that Defendants’ Motion be granted. On March 31, 2026, the Court adopted the Magistrate’s Recommendation, and granted the Motion to Dismiss. The Court is allowing the Lead Plaintiff time to file an amended complaint. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.