An investigation on behalf of investors in Olo Inc. (NYSE:OLO) shares over potential wrongdoing at Olo Inc. was announced and NYSE:OLO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/21/2022 -- An investigation on behalf of current long-term investors in shares of Olo Inc. (NYSE: OLO) was announced over potential breaches of fiduciary duties by certain officers and directors at Olo Inc.
Investors who purchased shares of Olo Inc. (NYSE: OLO) and currently hold any of those Olo Inc. (NYSE: OLO shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Olo Inc. officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
New York based Olo Inc. provides software-as-a-service platform for multi-location restaurants in the United States. Olo Inc. reported that its annual Total Revenue rose from $98.42 million in 2020 to $149.36 million in 2021,and that its Net Loss of $3.06 million in 2020 turned to a Net Loss of $42.27 million in 2021.
On August 11, 2022, Olo Inc. announced second-quarter results and outlook. The net loss was $11.7 million or $0.07 per share, compared to a net loss of $2.4 million or $0.02 per share a year ago. Additionally, per one analyst covering Olo, management disclosed Subway (~15K locations) has begun the process of replacing Olo's Rails product with a homegrown solution (2.5k locations moved in 2Q with the remaining expected in 1Q23.
Shares of Olo Inc. (NYSE: OLO) declined from $14.08 per share on August 4, 2022, to $8.11 per share on August 15, 2022.
Those who purchased shares of Olo Inc. (NYSE: OLO) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.