Kessler Topaz Meltzer & Check, LLP Reminds ONTF Investors of Securities Fraud Class Action Lawsuit

RADNOR, PA / ACCESSWIRE / December 5, 2021 / Law firm Kessler Topaz Meltzer & Check, LLP has announced that a securities class action lawsuit has been filed against ON24, Inc. (“ON24”) (NYSE: ONTF). The lawsuit accuses ON24 of violating federal securities laws, including omissions and fraudulent misrepresentations in connection with the company’s February 2021 initial public offering (“IPO”). Due to the materially misleading information provided by ON24 in connection with the registration statement and the prospectus of the company, investors have suffered significant losses.

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CLICK HERE TO SUBMIT YOUR ON24 LOSSES
CLOSING DEADLINE FOR APPLICANTS: January 3, 2022
CLASS PERIOD: February 3, 2021 to November 3, 2021
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS: James Maro, Esq. (484) 270-1453 or toll free (844) 887-9500 or email at [email protected]

ON24 ‘SPECIFIED ERROR BEHAVIOR

ON24 markets products and services based on webcasting, virtual event and environment technology via an AI-powered platform that enables companies to scale engagement, conversions and pipelines to drive sales growth.

On February 3, 2021, ON24 went public at $ 50 per share, sold 8.6 million shares and generated nearly $ 430 million in new capital. On August 11, 2021, for the quarter ended June 30, 2021, ON24 reported a net loss of $ 2.5 million, compared to net income of $ 5.3 million for the same period last year. Following this news, ON24’s share price fell $ 10.00 per share, or 30.95%, to close at $ 22.31 on August 11, 2021. Since then, ON24’s stock has continued to fall, and as of November 3, 2021, the company’s stock has fallen more than 60% from its IPO price.

WHAT CAN I DO?

ON24 investors can by January 3, 2022 at the latest, attempt to be appointed as lead class representative by Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages ON24 investors who have suffered significant losses to contact the company directly for more information.

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Who can be a lead plaintiff?

A lead plaintiff is a representative party who acts on behalf of each of the class plaintiffs in the conduct of the dispute. The main plaintiff is usually the investor or small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects an attorney to represent the lead plaintiff and the group, and those attorneys, if approved by the court, are lead or class plaintiffs. Your ability to participate in a recovery will not be affected by whether or not you will be the lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP pursues class action lawsuits in state and federal courts across the country and worldwide. The company has earned a worldwide reputation for excellence and reclaimed millions of dollars for victims of corporate fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and trustees. Ultimately, we succeeded if the bad guys pay and you get your wealth back. The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
280 König-von-Preußen-Strasse
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE: Kessler Topas Meltzer & Check, LLP

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