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Olo Inc. (NYSE: OLO) Investor Notice: Update in Lawsuit announced

04-26-2023 06:35 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit is pending on behalf of certain investors in Olo Inc. (NYSE: OLO) shares over alleged securities laws violations.

A lawsuit is pending on behalf of certain investors in Olo Inc. (NYSE: OLO) shares over alleged securities laws violations.

The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in shares of Olo Inc. (NYSE: OLO), over alleged violations of Federal Securities Laws by Olo Inc.

Investors who purchased shares of Olo Inc. (NYSE: OLO) have certain options should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On September 26, 2022, a lawsuit was filed by an investor in Olo Inc. (NYSE: OLO) over alleged Securities Laws Violations by Olo Inc.

The plaintiff claimed that between August 11, 2021 and August 11, 2022, the Defendants misled investors and/or failed to disclose that Subway was ending its contract with Olo, that Olo's key business metric - active locations - could not continue to grow as Defendants touted due to the loss of Subway's business, and that, as a result of the above, Defendants' statements about Olo's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On January 13, 2023, an amended Complaint was filed and on February 3, 2023, the defendants filed a Motion to Dismiss the amended Complaint.

On April 10, 2023, the Court issued an Order denying Defendants' Motion to Dismiss.

Those who purchased shares of Olo Inc. (NYSE: OLO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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