A shareholder in the Florida-based beverage company Celsius has filed a derivative complaint accusing the beverage company of padding revenue reports by overstocking distribution channels, one of several cases filed in recent months that makes similar claims.
The latest case, filed Monday in Clark County, Nevada, by Robbins LLP and The O’Mara Law Firm, brings breach of fiduciary duty and unjust enrichment claims, alleging Celsius executives and directors benefitted from insider knowledge and made financial misrepresentations linked to $11.3 billion in market capitalization losses.