SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP is investigating Otonomo Technologies, Inc. (NASDAQ: OTMO) to determine whether certain Otonomo Technologies Ltd. officers and directors violated securities laws and breached fiduciary duties to shareholders by engaging in a conflicted SPAC process. In August 2021, special purpose acquisition company Software Acquisition Group Inc. completed a business combination with Otonomo Technologies, Ltd. After the business combination, the company proceeded to operate under Otonomo Technologies, Inc. On its first day of trading, the stock closed at $8.31 per share. On August 4, 2023, the Company conducted a 15 for 1 reverse stock split.
What Now: Otonomo Technologies Ltd. shareholders have legal options. If you owned shares of Software Acquisition Group Inc. at the time of the business combination and have incurred significant loss in the stock, contact us for more information about your rights.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
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About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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