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Bleichmar Fonti & Auld LLP investigates Olo Inc. for potential fiduciary breaches.
ByAinvest
Tuesday, Jul 22, 2025 8:51 am ET1min read
Bleichmar Fonti & Auld LLP is investigating Olo Inc. and its executives for potential breaches of fiduciary duties in connection with the $10.25 per share sale to Thoma Bravo. The law firm is seeking information from current Olo shareholders regarding the merger. Olo is an open SaaS platform for restaurants that powers digital commerce operations, and its common stock is divided into Class A and Class B shares.
Leading securities law firm Bleichmar Fonti & Auld LLP has initiated an investigation into Olo Inc. (NYSE: OLO) and its executives, including CEO Noah H. Glass, for potential breaches of fiduciary duties in connection with the company's proposed sale to Thoma Bravo Discover Fund IV, L.P. (Thoma Bravo) [1].The investigation centers on the $10.25 per share merger price, which represents a 65% premium over Olo's unaffected share price of $6.20 as of April 30, 2025. Olo's board of directors, executive officers, and Glass are being scrutinized to determine if they acted in the best interests of shareholders [1].
Olo Inc. operates an open SaaS platform for restaurants in the United States, helping them with digital ordering, delivery, and full-stack payment programs. The company's stock is divided into Class A and Class B shares, with Class B shares holding ten votes per share and Class A shares holding one vote. As of December 31, 2024, directors and executive officers collectively owned approximately 82% of the voting power of the company's capital stock [1].
The investigation follows Olo's announcement of the merger on July 3, 2025, with Thoma Bravo. The acquisition is expected to value Olo at approximately $2 billion in equity value [2]. Shareholders are encouraged to submit their information to Bleichmar Fonti & Auld LLP, which is offering its services on a contingency fee basis [1].
Bleichmar Fonti & Auld LLP has a strong track record in securities class actions and shareholder litigation, having recovered over $900 million from Tesla, Inc.'s Board of Directors and $420 million from Teva Pharmaceutical Ind. Ltd. [1].
References:
[1] https://www.morningstar.com/news/globe-newswire/9497030/olo-securities-news-did-the-olo-inc-nyseolo-board-breach-its-duties-to-shareholders-contact-bfa-law-about-the-thoma-bravo-merger
[2] https://stockanalysis.com/stocks/olo/
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