Olo Alert: Shareholder Class Action Survives Motion to Dismiss; Should Management be Held Accountable for Shareholder Losses? Contact Johnson Fistel

SAN DIEGO--(BUSINESS WIRE)--Johnson Fistel, LLP is investigating potential claims on behalf of Olo Inc. (“Olo” or the “Company”) (NYSE: OLO) against certain of its officers and directors.

If you have continuously owned Olo shares before August 11, 2021, you can click or copy and paste the link below in a browser to join this action:

https://www.johnsonfistel.com/investigations/olo-class-action

On April 10, 2023, the court denied the defendant's motion to dismiss a shareholder class action lawsuit pending against Olo and certain of its officers. According to a federal securities lawsuit, the Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose that: (1) Subway was ending its contract with Olo; and (2) Olo’s key business metric – active locations – could not continue to grow as Defendants touted due to the loss of Subway’s business.

About Johnson Fistel, LLP:

Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.