NEW YORK, Sept. 11, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed against Celsius Network LLC, Celsius Lending LLC and Celsius KeyFi LLC, Alexander Mashinsky, Shlomi Leon, David Base and Alan Jeffrey Carr in the United States District Court for the District of New Jersey on behalf of all individuals and entities that purchased or otherwise acquired securities of Celsius between February 9, 2018 and July 13 , 2022, both dates inclusive (the “Class Period”). Investors have until September 13, 2022 to petition the court to be named lead plaintiff in the lawsuit.

click here to take part in the action.

Celsius is a financial services company that generates revenue through cryptocurrency trading, lending and borrowing, sales of its unregistered securities, and proprietary trading.

The price of CEL token rose from a high of $7.73 on June 3, 2021 to a low of $0.28 just over a year later on June 12, 2021 after the June crisis and Celsius took its accounts investors had frozen.

The lawsuit alleges that the defendants violated provisions of the Stock Exchange Act by enacting a plan, scheme and conduct that Celsius intended and did to deceive retail investors, causing them to artificially overstate Celsius financial products prices to buy; endorsed false statements that they knew or ought to have known recklessly to be materially misleading and made untrue statements about material facts and failed to disclose material facts necessary for the statements made not to be misleading.

The complaint further alleges that Celsius and its affiliates, along with each defendant, also violated provisions of the Securities Act by selling non-exempt securities without registering them. The Complaint alleges that Celsius and individual defendants violated provisions of the Securities Act by also engaging in…