Olo Inc. Investors: Company Investigated by the Portnoy Law Firm
News provided byPortnoy Law
Aug 16, 2022, 4:42 PM ET
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Olo Inc. (“Olo” or the “Company”) (NYSE: OLO) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Olo investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 11, 2022, Olo announced second-quarter results and outlook. The net loss was $11.7 million or $0.07 per share, compared to a net loss of $2.4 million or $0.02 per share a year ago. Additionally, per one analyst covering Olo, management disclosed Subway (~15K locations) has begun the process of replacing Olo's Rails product with a homegrown solution (2.5k locations moved in 2Q with the remaining expected in 1Q23. Following this news, Olo stock was trading down over 30% in pre-market trading on August 12, 2022.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar