Two companies that have made huge investments in Celsius have filed a lawsuit today with the court requesting that a committee that is supposed to represent their interests can join the case.
Asset management company WestCap and Canada’s pension fund Caisse de dépôt et placement du Québec (CDPQ) serving the Quebec region said in their requests that this committee should be formed “urgently”.
“For the benefit of the customers, but against us”
The two companies noted that if it continues without such measures, the lawsuit will proceed improperly and irregularly in favor of customers, but against companies that hold shares in the company.
The last day for those who oppose this request to submit their defense will be October 6th.
They lost $150 million
Caisse de dépôt et placement du Quebec (CDPQ), a pension fund that serves the Quebec region of Canada and has $303 billion in funds under its management, announced that they have invested $150 million in Celsius.
The CEO of the company made the announcement at the company’s first 6-month report meeting of the year. The company also announced a 7.9% loss as of the first half of the year.
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