Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announced that it has commenced an investigation on behalf of Olo Inc. investors concerning the Company’s possible violations of the federal securities laws.
“expect[s] Subway’s direct marketplace integration to continue with the balance of their locations being removed from our total active location counts in the fourth quarter of this year, or the first quarter of 2023.”
you suffered a loss on your Olo investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws
Also Read: GISI and Hill International Announce Strategic Merger
On February 12, 2020, Olo announced its partnership with Subway restaurants to “integrate digital orders directly into the restaurant’s point of sale for the majority of the chain’s locations” and that “[t]he partnership allows Subway’s network of more than 20,000 U.S. restaurants to more seamlessly handle digital orders from third-party marketplaces.”
On August 11, 2022, Olo released its second quarter 2022 financial results, disclosing that it is in the process of losing its business from Subway, and that it had already lost about 2,500 Subway locations during the second quarter. The Company stated that it “expect[s] Subway’s direct marketplace integration to continue with the balance of their locations being removed from our total active location counts in the fourth quarter of this year, or the first quarter of 2023.”