Celsius Execs Sued Over Rosy Projections Belied by Stalled Sales

While beverage-maker Celsius Holdings, Inc.'s products piled up in PepsiCo warehouses, causing a deceptive revenue boom, Celsius executives misled investors about the company’s financial projections, artificially inflating its stock price, a derivative shareholder suit says.

Throughout 2024, Celsius officers touted a PepsiCo, Inc. distribution deal in public filings and statements, shareholder Kurt Dobler said in a complaint filed Monday in the US District Court for the District of Nevada. But executives hid that Pepsi had made only a large one-time purchase of Celsius’ drinks, causing the company’s 2023 revenues to skyrocket when demand wasn’t there.

“Making matters worse, Celsius had ...