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.
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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.
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