# Celsius Holdings corporate and legal developments > Live situation record from CLSTR: https://clstr.news/situations/celsius-holdings-corporate-and-legal-developments > Updated: 2026-08-25T21:21:13.000Z. Sources: 4. Developments: 2. Celsius Holdings has been the subject of significant corporate and legal developments involving high-profile figures. Billionaire Russ Savage, founder of Rockstar Energy, acquired a 4.7% stake in the company, valued at approximately $300 million. Following a second-quarter earnings miss, Savage publicly called for the dismissal of CEO John Fieldly and other key executives, expressing a willingness to assume the CEO role himself. While Celsius shares initially dropped due to earnings disappointment, they rose 12% following news of Savage’s investment. Separately, Russell Simmons reached a settlement with the U.S. Department of Justice to recover a portion of Celsius stock. The shares, part of a tranche valued at over $350 million, were previously held by the government following the federal prosecution of former Goldman Sachs banker Tim Leissner. The legal proceedings involve nearly 10 million shares stemming from a 2015 investment. Court filings indicate Simmons has committed to using at least $8.6 million of the proceeds to settle debts with creditors. ## Timeline ### 2026-08-25: Russell Simmons to recover Celsius stock in DOJ settlement Russell Simmons has settled with the DOJ to recover a portion of Celsius Holdings stock, part of a $350 million tranche linked to the prosecution of former banker Tim Leissner. 4 sources. https://clstr.news/cluster/russell-simmons-to-recover-celsius-stock-in-doj-settlement ### 2026-08-07: Russ Savage acquires 4.7% stake in Celsius, pushes for CEO removal Russ Savage bought a 4.7% stake in Celsius Holdings, worth $300 M, and demanded the CEO and other top executives be fired after an earnings miss. 5 sources. https://clstr.news/cluster/russ-savage-acquires-47-stake-in-celsius-pushes-for-ceo-removal --- Cite as: Celsius Holdings corporate and legal developments. CLSTR, https://clstr.news/situations/celsius-holdings-corporate-and-legal-developments