NEW YORK, May 19, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Olo, Inc. (NYSE: OLO) on behalf of long-term stockholders following a class action complaint that was filed against Olo on September 26, 2022 with a Class Period from August 11, 2021 and August 11, 2022. Our investigation concerns whether the board of directors of Olo have breached their fiduciary duties to the company.
The complaint alleges that defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects, which were known to defendants or recklessly disregarded by them. Specifically, defendants misrepresented and/or failed to disclose that: (i) Subway was ending its contract with the Company; (ii) the Company's key business metric - active locations - could not continue to grow as defendants touted due to the loss of Subway's business; and (iii) as a result, defendants' statements about the Company's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you are a long-term stockholder of Olo, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.