Celsius Holdings Inc.
Celsius Holdings Settles Stockholder Derivative Actions
Summary
On January 24, 2025, the Eighth Judicial District Court in Clark County, Nevada, issued an order granting preliminary approval of a settlement between Celsius Holdings, Inc. and the plaintiffs in three related stockholder derivative actions. The settlement, which consists of various corporate governance reforms and payment of $987,500 in attorneys' fees and expenses, is scheduled for final approval on March 27, 2025. Celsius Holdings, Inc. entered into a Stipulation and Agreement of Settlement on December 2, 2024, to resolve the actions. The settlement details and related documents are furnished as Exhibits 99.1 and 99.2 to this report.
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Exhibits (2)
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About Celsius Holdings Inc.
Celsius Holdings Inc. is a rapidly growing beverage company focused on creating functional fitness drinks for health-conscious consumers. Its core product line, Celsius, is known for its thermogenic properties that aim to boost metabolism and burn calories, making it particularly popular among fitness enthusiasts and athletes. The company offers a range of flavors and formats, including sparkling and non-sparkling options, catering to diverse taste preferences. Celsius Holdings Inc. leverages scientific research to formulate drinks enriched with vitamins and essential nutrients, avoiding artificial preservatives and flavors. This commitment to healthier options aligns with broader consumer trends toward wellness and clean living. The company's products are distributed widely through various channels, including mass retailers, specialty health channels, and online platforms, ensuring broad accessibility to consumers. In the financial markets, Celsius Holdings Inc. exemplifies the potential of niche companies that capitalize on health trends to capture significant market share. As consumer interest in fitness and health-aware beverages grows, Celsius Holdings' strategic marketing and innovative product development continue to enhance its visibility and influence within the beverage industry.
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