Hey wearegiants,
thank you for this hint. Actually with your piece of code you only get the label of a single selected value.
Use this code if you want to store all labels in one array ($labels):
$labels = array();
$field = get_field_object('fieldname');
$values = get_field('fieldname');
foreach ($values as $value) {
$labels[] = $field['choices'][ $value ];
}
For outputting the labels:
foreach ($labels as $label) {
echo $label;
}