Olo Inc. (NYSE: OLO): Olo Inc.’s (“Olo” or the “Company”) board of directors and founder and current CEO Noah H. Glass (“Glass”) are being investigated for potentially breaching their fiduciary duties in connection with the pending sale of Olo to Thoma Bravo Discover Fund IV, L.P. (“Thoma Bravo”) for $10.25 per share, which values the entirety of Olo at approximately $2 billion.
If you are a holder of Olo stock, you are encouraged to submit your information.
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.
What Are My Rights?
If you currently own Olo stock, you may have rights under Delaware law to investigate whether or how Olo’s board of directors and/or Glass may have breached their fiduciary duties in connection with the merger.
Contact Us
If you own Olo stock, you are encouraged to submit your information using the form on this page to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212.789.3619
All representation is on a contingency fee basis. 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.
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