Olo Inc.'s CEO and chief financial officer sold some of their stock in the restaurant software company while in possession of insider information, including the Subway chain’s decision to end its partnership with Olo, an investor alleges.
The executives and other members of leadership harmed the company by misrepresenting the number of restaurant locations actively using its software, shareholder Cashondra Floyd says in a derivative suit filed Thursday in the US District Court for the Southern District of New York.
They also allowed the company to issue misleading statements about its relationship with Subway before the contract’s termination became public ...
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