Celsius Shareholders Ask for Committee to Safeguard Their Interests

According to documents filed by attorneys representing Celsius shareholders, shareholders of Celsius’ Class B preferred stock said they urgently needed a trustee representing them, Bloomberg reported. A committee of unsecured creditors currently exists to maximize the interests of clients, but there are currently no stakeholders at the negotiating table to advocate for shareholders' interests, so the need to appoint a committee will ensure shareholders are on an equal footing with other key stakeholders, the document said. A hearing on the creation of a committee to represent shareholder interests is scheduled for Oct. 6.