An investigation on behalf of investors in Olo Inc. (NYSE: OLO) shares over potential wrongdoing at Olo Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/02/2021 -- Certain directors of Olo Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Olo Inc. (NYSE: OLO) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Olo Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
New York based Olo Inc. provides software-as-a-service platform for multi-location restaurants in the United States. Olo Inc. reported that its annual Total Revenue rose from $50.69 million in 2019 to $98.42 million in 2020, and that its Net Loss of $8.25 million in 2019 turned into a Net Income of $3.06 million in 2020.
On March 31, 2021, media outlets reported that the third-party delivery company DoorDash Inc. ("DoorDash") had filed a lawsuit accusing Olo Inc. of fraudulently charging DoorDash higher fees than its competitors, alleging breach of a 2017 contract between the two companies.
Shares of Olo Inc. (NYSE: OLO) declined to as low as $23.92 per share on April 1, 2021.
Those who purchased shares of Olo Inc. (NYSE: OLO) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.