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If you purchased or otherwise acquired Celsius common stock between August 12, 2021 and March 1, 2022, inclusive, a proposed class action settlement may affect your rights
News provided byCelsius Holdings Securities Settlement Claims Administrator
Sep 18, 2023, 8:00 AM ET
NEW YORK, Sept. 18, 2023 /PRNewswire/ -- The following statement is being issued by the Celsius Holdings Securities Settlement Claims Administrator regarding notice of a proposed class action settlement.
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO: 22-80418-CV-MIDDLEBROOKS
CITY OF ATLANTA POLICE OFFICERS'
CELSIUS HOLDINGS, INC., JOHN
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND EXPENSES
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF CELSIUS HOLDINGS, INC. ("CELSIUS") BETWEEN AUGUST 12, 2021 AND MARCH 1, 2022, INCLUSIVE (THE "CLASS PERIOD"):
You are hereby notified that, pursuant to an Order of the United States District Court for the Southern District of Florida, a hearing (the "Settlement Fairness Hearing") will be held on January 31, 2024, at 10:00 a.m., before the Honorable Donald M. Middlebrooks, United States District Judge, at the United States Courthouse, 701 Clematis Street, Room 257, West Palm Beach, FL 33401, to determine: (1) whether a proposed Settlement of City of Atlanta Police Officers' Pension Plan, et al. v. Celsius Holdings, Inc., et al., Case No. 22-80418-CV-MIDDLEBROOKS (S.D. Fla.) (the "Action") including the sum of Seven Million Nine Hundred Thousand Dollars ($7,900,000) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice and will prevent Settlement Class Members from ever being part of any other lawsuit against the Released Defendant Parties (and parties related to them) about the legal claims being resolved by this Settlement, as set forth in the Stipulation of Settlement dated August 2, 2023; (2) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiffs should be certified as class representatives for the Settlement Class, and Lead Counsel should be appointed as class counsel for the Settlement Class; (3) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) whether Plaintiffs' Counsel should be awarded attorneys' fees and expenses incurred in connection with this Action, together with interest thereon, and whether the Lead Plaintiffs should receive an award of their costs and expenses in representing the Settlement Class.
If you purchased or otherwise acquired Celsius common stock during the Class Period (August 12, 2021 to March 1, 2022, inclusive), your rights may be affected by this Action and the Settlement thereof. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies either by downloading this information at www.CelsiusHoldingsSecuritiesSettlement.com or by writing to Celsius Holdings Securities Settlement, c/o KCC Class Action Services, P.O. Box 301135, Los Angeles, CA 90030-1135. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form by mail (postmarked no later than December 27, 2023), or online at www.CelsiusHoldingsSecuritiesSettlement.com (submitted no later than December 27, 2023), establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Action unless you request to be excluded, in the manner and form explained in the detailed Notice referred to above.
If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is postmarked no later than January 10, 2024, in accordance with the instructions set forth in the Notice. If you ask to be excluded, you will not get any payment from the Net Settlement Fund, and you cannot object to the Settlement. You will not be legally bound by anything that happens in the Action, and you may be able to sue the Released Defendant Parties and their Related Parties about the Settlement Class's Released Claims in the future. If you want to bring your own lawsuit based on the matters alleged in this Action, you may want to consult an attorney and discuss whether any individual claim that you may wish to pursue would be time-barred. Any objection to any aspect of the Settlement, the Plan of Allocation, and/or Lead Counsel's fee and expense application must be filed with the Clerk of the Court and delivered to Lead Counsel and Defendants' Counsel, such that they are filed and received no later than January 10, 2024, in accordance with the instructions set forth in the Notice.
Requests for the Notice and Proof of Claim and Release Form should be made to the Claims Administrator:
Celsius Holdings Securities Settlement
c/o KCC Class Action Services
P.O. Box 301135
Los Angeles, CA 90030-1135
Inquiries, other than requests for the Notice and Proof of Claim Form, may be made to Lead Counsel:
GRANT & EISENHOFER P.A.
Daniel L. Berger
485 Lexington Avenue
New York, NY 10017
Tel.: (646) 722-8500
Fax: (646) 722-8501
PLEASE DO NOT CONTACT THE DEFENDANTS, THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: September 18, 2023 BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
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SOURCE Celsius Holdings Securities Settlement Claims Administrator
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