Celh stock news: robbins llp investigates celsius holdings, inc. (celh) on behalf of shareholders

San diego--(business wire)--shareholder rights law firm robbins llp is investigating celsius holdings, inc. (nasdaq: celh) and its officers and directors to determine whether they breached their fiduciary duties and violated securities laws in relation to the company's restating its financials. celsius develops, markets, and sells functional drinks and liquid supplements. if you would like more information about our investigation of celsius holdings, inc.'s misconduct, click here. what is this case about: according to a complaint filed against celsius, on march 1, 2022, celsius disclosed it could not timely file its 2021 annual report due to "staffing limitations, unanticipated delays and unidentified 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, the company's stock fell to an intra-day low of $56.21 per share on march 2, 2022. over two trading sessions, the company's stock fell $5.20, or 8.3%, to close at $57.60 per share on march 3, 2022. during the class period, defendants failed to disclose to investors that there was a material weakness in celsius's internal controls over financial reporting, which caused the company to improperly record expenses for non-cash share-based compensation for second and third quarters of 2021. 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. next steps: if you acquired shares of celsius holdings, inc. (celh) between august 12, 2021 and march 1, 2022, you have legal options. contact us for more information. all representation is on a contingency fee basis. shareholders pay no fees or expenses. contact us to learn more: aaron dumas (800) 350-6003 adumas@robbinsllp.com shareholder information form about robbins llp: a recognized leader in shareholder rights litigation, the attorneys and staff of robbins llp have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. to be notified if a class action against celsius holdings, inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for stock watch today. attorney advertising. past results do not guarantee a similar outcome.
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