Drink Maker Celsius, Investors Get $7.9 Million Pact Approved

Celsius Holdings Inc.'s agreement to settle investors’ accounting-related securities fraud claims for $7.9 million merits final approval, a federal court ruled.

The amount represents about 10% to 20% of the estimated damages recoverable at trial, Judge Donald M. Middlebrooks said for the US District Court for the Southern District of Florida. The plaintiffs faced a significant risk at trial, particularly in their proof of loss causation, he said.

• The price of Celsius stock suffered losses of 26% in March 2022, allegedly due to the beverage maker’s acknowledgment of accounting weaknesses related to nine former employees’ stock options
• The parties received ...