According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Celsius had improperly recorded expenses for non-cash share-based compensation for second and third quarters of 2021;
- Celsius’s financial statements for those periods would be restated, including to report a net loss for the third quarter of 2021;
- there was a material weakness in Celsius’s internal controls over financial reporting; and
- as a result of the foregoing, defendants’ positive statements about Celsius’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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