Drink Maker Celsius Agrees to $7.9 Million Deal With Investors

Celsius Holdings Inc. investors have asked a federal court to give initial approval to a $7.9 million settlement agreement in a proposed class action alleging securities fraud in connection with accounting issues.

The amount was suggested by a mediator, according to the Atlanta police and firefighters’ pension funds suing the energy drink maker. The deal is fair, reasonable, and adequate, they said Thursday in a brief to the US District Court for the Southern District of Florida.

The pension funds allege the price of Celsius stock suffered losses of 26% after the company acknowledged accounting weaknesses in March 2022. CFO ...