An investigation for investors in Olo Inc. (NYSE:OLO) shares over potential securities laws violations by Olo Inc. was announced.

San Diego, CA -- (SBWire) -- 08/24/2022 --Olo Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Olo Inc. (NYSE: OLO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Olo Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Olo Inc. provides software-as-a-service platform for multi-location restaurants in the United States. On August 11, 2022, Olo Inc. 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.

Shares of Olo Inc. (NYSE: OLO) declined from $14.08 per share on August 4, 2022, to $7.16 per share on August 22, 2022.

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 The Shareholders Foundation
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.