An investigation for investors in ON24, Inc. (NYSE:ONTF) shares over potential securities laws violations by ON24, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/24/2021 -- ON24, Inc is under investigation concerning potential securities laws violations in connection with certain financial statements.
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 focuses on whether a series of statements by ON24, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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 $19.30 per share on August 18, 2021.
Those who purchased shares of ON24, Inc. (NYSE: ONTF) have certain options and should contact the Shareholders Foundation.
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