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 email@example.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.
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