OLO - Olo Inc. (OLO) Shareholders: Contact Robbins LLP if You Have Been Financially Damaged by Olo's Misconduct | Benzinga

SAN DIEGO, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that on December 1, 2023, Judge Rakoff denied in part defendants' motion to dismiss the complaint filed against Olo Inc. (NYSE:OLO) on behalf of stockholders for violations of the Securities Exchange Act of 1934. Judge Rakoff's ruling allows certain claims against Olo to proceed. Class actions of this nature can harm the Company by depleting its corporate assets.

For more information, submit a form, email Aaron Dumas, Jr., or give us a call at (800) 350-6003.

What is this Case About: Olo Inc. (OLO) Failed to Disclose Key Metrics Regarding its Relationship with Subway to Shareholders

According to the complaint, on February 12, 2020, Olo announced a partnership with Subway® restaurants ("Subway") to enable Subway's more than 20,000 U.S.-based restaurants to handle digital orders from third-party "marketplaces" such as Uber Eats or DoorDash.

On August 10, 2021, Olo reported that it ended the second quarter of 2021 with approximately 74,000 active locations, which represented a 30% increase over the same period in the prior ...

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