Fitness beverage company Celsius to pay $3 million fine to settle US SEC accounting case

Celsius Holdings

17/01/2025 14:05

Jan 17 (Reuters) - Celsius Holdings  CELH.O , the
fitness beverage company, will pay a $3 million civil fine to
resolve charges it accounted improperly for stock-based awards,
the U.S. Securities and Exchange Commission said on Friday.
    The SEC said Celsius mishandled its accounting in 2021 for
stock-based compensation expenses when it modified awards for
six departing employees and retiring board members, causing its
financial statements to be materially inaccurate and misleading.
    In addition, Celsius lacked procedures from Sept. 2019 to
Aug. 2023 to ensure it reported non-financial information in a
timely manner, the SEC said.
    Celsius did not admit or deny wrongdoing in agreeing to
settle.
    

 (Reporting by Jonathan Stempel in New York)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))