Celsius, Executives Shed Investor Lawsuit Over Pepsi Partnership

Celsius Holdings Inc. and top executives defeated investor allegations of misrepresenting inventory levels and demand for the company’s energy drinks after a distribution deal with PepsiCo Inc.

There weren’t sufficient individual allegations about how each executive would’ve been intentionally or recklessly defrauding investors, Judge Melissa Damian said, adopting a magistrate judge’s dismissal recommendation Tuesday. There weren’t claims each executive personally monitored Pepsi’s inventory levels or was aware of a buildup of Celsius products to bolster an inference of intent or recklessness, the US District Court for the Southern District of Florida judge said.

• Many alleged misstatements were nonactionable, Magistrate Judge ...