We are investigating possible breaches of fiduciary duty and violations of the federal securities laws by, among others, the Board of Directors and senior officers of Olo Inc. (NYSE: OLO) (“Olo” or the “Company”), an online food delivery service, concerning misleading statements and omissions connected with the Company’s initial public offering (“IPO”) and failure to disclose the termination of its partnership with Subway IP LLC (“Subway”).

While in possession of the undisclosed information regarding the termination of the Subway partnership, Olo’s founder, Chief Executive Officer (“CEO”), and members of the Company’s board sold Company shares for $1.5 million and $8.6 million, respectively, immediately upon expiration of the IPO lock-up period.

After the close of the markets on August 11, 2022, the Company disclosed that it was aware of the termination of the Subway partnership.  The price of the Company’s common stock dropped from $12.99 on August 11, 2022 to close at $8.26 per share on August 12, 2022, a 36% decline.  Analysts have correspondingly significantly reduced their stock price targets for the Company.

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients.  For more information about the firm, please go to: http://www.weisslaw.co