NEW YORK - (NewMediaWire) - December 14, 2024 -Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Celsius Holdings, Inc. (“Celsius” or the “Company”) (NASDAQ: CELH) on behalf of investors that purchased or otherwise acquired Celsius securities between February 29, 2024 and September 4, 2024 (the “Class Period”).

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If you are an investor in Celsius and have suffered losses, you mayCLICK HEREto contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than January 21, 2025, to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.

According to the complaint, on August 1, 2022, Celsius entered into a long-term distribution agreement through which PepsiCo, Inc. (“Pepsi”) would become the primary distributor of Celsius products in the United States.

On February 29, 2024, the start of the Class Period, Celsius reported its financial results for the fourth quarter and full-year 2023, including “Record full-year revenue of $1,318 million up 102% from $654 million in full-year 2022.”

On September 4, 2024, the end of the Class Period, during a Company presentation at a Barclays conference, Celsius disclosed $100 million to $120 million less in orders from Pepsi in the third quarter of 2023 compared to the third quarter of the prior year. Additionally, according to the complaint, Celsius disclosed that Pepsi was holding excess supply of “several million more cases over the past 1.5 years than they really needed to hold,” meaning that Celsius’ sales to Pepsi far outstripped market demand and that Pepsi was drawing down excess inventory from its warehouses.

The complaint alleges, among other things, that throughout the Class Period, the Defendants made false and misleading statements and/or failed to disclose that (i) the Company materially oversold inventory to PepsiCo, Inc. (“Pepsi”) far in excess of demand, and faced a looming sales cliff during which Pepsi would significantly reduce its purchases of Celsius products, (ii) as Pepsi drew down significant amounts of inventory overstock, Celsius’ sales would materially decline in future periods, hurting the Company’s financial performance and outlook, and (iii) Celsius’ sales rate to Pepsi was unsustainable and created a misleading impression of Celsius’ financial performance and outlook the Company’s outlook and expected financial performance were false and misleading at all relevant times.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website atwww.kaplanfox.com.

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If you have any questions about this Notice, your rights, or your interests, please contact:

CONTACT:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com

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