LOS ANGELES, CA / ACCESSWIRE / October 4, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Olo Inc. ("Olo" or "the Company") (NYSE:OLO) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between August 11, 2021 and August 11, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before November 25, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Olo suffered from losing Subway's business. The Company could not grow its key business metric, active locations, as forecasted based on losing the Subway business. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Olo, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm