An investigation on behalf of investors in ON24, Inc. (NYSE:ONTF) shares over potential wrongdoing at ON24, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 09/14/2021 -- Certain directors of ON24, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of ON24, Inc. (NYSE: ONTF) 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 ON24, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Francisco, CA based ON24, Inc. provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide.
On or about February 3, 2021, ON24, Inc. (NYSE: ONTF) sold about 8.6 million shares of stock in its initial public stock offering (the "IPO") at $50 a share, raising nearly $430 million in new capital..
On Wednesday, August 11, 2021, ON24, Inc. (NYSE: ONTF) released its second quarter ended June 30, 2021, financial results and full-year guidance that missed analyst estimates. Net loss was $2.5 million, or $(0.05) per diluted share, compared to net income of $5.3 million, or $0.14 per diluted share in the second quarter of 2020. According to analysts at Robert Baird & Co., ONTF's strong revenue growth was offset by higher-than-expected churn among small and mid-sized businesses.
Shares of ON24, Inc. (NYSE: ONTF) declined to $19.80 per share on August 13, 2021.
Those who purchased shares of ON24, Inc. (NYSE: ONTF) have certain options and should contact the Shareholders Foundation.
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