CLAIMSFILER ALERTS ON24 Investors to Lead Plaintiff Deadline in Class Action Lawsuit Against ON24, Inc.

NEW ORLEANS, December 1, 2021 / PRNewswire / – ClaimsFiler, a FREE shareholder intelligence service, reminds investors of losses of more than $ 100,000 that they have up January 3, 2022 Lead plaintiffs in a securities class action lawsuit against ON24, Inc. (NYSE: ONTF) if they purchased the company’s shares in connection with its February 2021 Initial Public Offering (the “IPO”). This action is pending in The United States District Court for the Northern District of California.

Get help
ON24 investors should visit us at https://claimsfiler.com/cases/nyse-ontf/ or call us toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.

About the lawsuit
ON24 and some of its executives are charged with failing to disclose material information in the company’s IPO registration statement and prospectus in violation of federal securities laws. In particular, the complaint alleges that the registration declaration and the prospectus did not disclose, among other things, that the increase in customer numbers in the run-up to the IPO consisted of a significant number that, due to the COVID-19-related demand, did not match the traditional supply of the Company matched customer profile and as a result, they renewed their contracts far less often, which led to increased churn.

on August 10, 2021, the company announced its financial results for Jan. [it] in the second quarter of last year during the peak of COVID … mostly in the first-time renewal cohort, customers who signed one-year contracts last year and who wanted to be renewed. “In that news, the company’s share price slumped about 31%, causing harm to investors .

The case is Douvia v ON24, Inc., 21-cv-08578.

About ClaimsFiler
ClaimsFiler has a single mission: to serve as a resource to help retail investors reclaim their share of billions of dollars from stock class litigation settlements. At ClaimsFiler.com, investors can: (1) register free of charge to have access to information and comparison websites for various securities class action cases so that they can submit their own claims in a timely manner; (2) upload their portfolio transaction details to be notified of relevant securities cases in which they may have a financial interest; and (3) send inquiries to the law firm Kahn Swick & Foti, LLC for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

SOURCE ClaimsFiler

Comments are closed.