Olo Inc. (NYSE: OLO) – Press Release (9/30/2022) – Lowey Dannenberg Notifies Investors in Olo Inc. (NYSE: OLO) of Securities Class Action Lawsuit and Upcoming Lead Plaintiff Deadline.
Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces that a federal securities class action has been filed on behalf of investors of Olo Inc. (“Olo” or the “Company”).
On September 26, 2022, a complaint was filed against Olo Inc., CEO Noah Glass, and CFO Peter J. Benevides (collectively the “Defendants”), alleging that they made materially false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Subway, an important client for online ordering, was ending its contract with the Company; (2) 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 (3) that, as a result of the above, Defendants’ statements about the Company’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
When the truth was revealed, the price of Olo’s securities dropped precipitously, injuring investors.
If you purchased Olo’s securities during the Class Period, August 11, 2021 to August 11, 2022, and wish to learn more, or discuss the case, click here, or please contact our attorneys at (914) 733-7234 or via email at email@example.com. Any investor who wishes to serve as Lead Plaintiff must act before the court deadline of November 28, 2022.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7220
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.