Celsius Holdings, Inc. Investigation - CELH

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Celsius Holdings, Inc. (NASDAQ: CELH)

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1.I have reviewed a complaint filed in the action.

2.I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3.I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4.My transaction(s) in which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5.Within the last 3 years,

6.I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Celsius Holdings, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Celsius Holdings, Inc Investigation Details

Celsius Holdings shareholders absorbed steep losses after the Company posted second-quarter revenue of $817.9 million against analyst consensus of more than $870 million, sending shares sharply lower. The damage was concentrated in the Company's flagship product line. Revenue from the core Celsius brand declined approximately 11.7% year-over-year. Consolidated gross margin came in at 48.1%, down from 51.5% -- a compression of roughly 340 basis points. Adjusted EBITDA declined 12% year-over-year even as total revenue grew 10.6%. Management attributed the core-brand deterioration to promotional activity, inventory rebalancing, softer club-channel sales, SKU rationalization, and delayed innovation, and indicated the Celsius brand could remain weak in the third quarter. Growth from the acquired Alani Nu brand only partially offset the decline. The investigation concerns whether Celsius Holdings adequately disclosed the condition of its core brand and margin profile to investors.

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