Celsius Faces Investor Class Action Over Pepsi Inventory Sales

Celsius Holdings Inc. and top executives violated federal securities law when they made false or misleading statements about inventory sales to its largest supplier, a class action claims.

The energy drink company and its CEO and CFO allegedly “engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Celsius common stock” by misrepresenting its sales to PepsiCo Inc., the complaint filed Nov. 22 in the US District Court for the Southern District of Florida says.

The suit, brought by the pension fund Shelby Township Police & Fire Retirement System, seeks ...