OLO BREAKING NEWS: BFA Law Announces Olo Inc.'s Board is being Investigated for Potential Breaches of its Fiduciary Duty in Connection with the $10.25 Merger Price
Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Olo Inc. (NYSE: OLO), its board of directors, its executive officers, and founder and current CEO Noah H. Glass for potential breaches of their fiduciary duties.
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If you are a current shareholder of Olo, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases-investigations/olo-inc-merger-investigation.
Why is Olo being Investigated?
Olo is an open SaaS platform for restaurants that powers restaurant brands' on-demand digital commerce operations, enabling digital ordering, delivery, engagement, and payments. Olo common stock is divided into Class A and Class B shares. Class A shares are publicly traded, whereas Class B shares are not. Class B shares receive ten votes per share, while Class A shares receive only one vote. As of December 31, 2024, 'directors and executive officers and their affiliates collectively beneficially owned, in the aggregate, shares representing approximately 82% of the voting power of our outstanding capital stock.'
On July 3, 2025, Olo announced that it had entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction valuing Olo at approximately $2 billion in equity value. Under the terms of the agreement, Olo shareholders will receive $10.25 per share in cash. The per-share purchase price purportedly represents a premium of 65% over Olo's unaffected share price of $6.20 as of April 30, 2025.
BFA Law is investigating whether Olo's board of directors, its executive officers, and/or Glass breached their fiduciary duties to shareholders in connection with the merger.
Click here for more information: https://www.bfalaw.com/cases-investigations/olo-inc-merger-investigation.
What Can You Do?
If you are a current holder of Olo you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named 'Elite Trial Lawyers' by the National Law Journal, among the top '500 Leading Plaintiff Financial Lawyers' by Lawdragon, 'Titans of the Plaintiffs' Bar' by Law360 and 'SuperLawyers' by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
Attorney advertising. Past results do not guarantee future outcomes.
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