Power Corporation of Canada
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Financials : Insurance | Large Cap Value
Based in Canada
Company profile

Power Corporation of Canada is a Canada-based international management and holding company. The Company is focused on providing financial services in North America, Europe, and Asia. Its core holdings include insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. The Company’s reportable segments include Lifeco, IGM Financial and GBL. Lifeco is a financial service holding company with interests in life insurance, health insurance, retirement and investment management services, asset management and reinsurance businesses primarily in Canada, the United States and Europe. IGM Financial is a wealth and asset management company supporting financial advisors and the clients they serve in Canada, and institutional investors through North America, Europe, and Asia. GBL is a Belgian holding company, which is focused on long-term and sustainable value creation.

Closing Price
$26.78
Day's Change
-0.2699 (-1.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
27.02
Day's Low
26.61
Volume
(Light)
Volume:
26,317

10-day average volume:
47,705
26,317

Olo Deadline Alert

5:54 pm ET November 24, 2022 (Newsfile) Print

New York, New York--(Newsfile Corp. - November 24, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Olo, Inc. ("Olo" or the "Company") (NYSE: OLO) and reminds investors of the November 28, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you suffered losses exceeding $100,000 investing in Olo Class A Common Stock between August 11, 2021 and August 11, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/OLO.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6455/145555_9e10369344608b7f_001full.jpg



There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Subway was ending its contract with Olo; (2) Olo's key business metric - active locations - could not continue to grow as Defendants touted due to the loss of Subway's business; and (3) that, as a result of the above, Defendants' statements about Olo's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

The truth emerged on August 11, 2022, when the Company announced disappointing results for the second quarter of 2022, lowering revenue guidance and reporting that its active location count remained flat at 82,000. The Company explained that it was impacted by the loss of 2,500 Subway locations, due to Subway choosing to implement direct integration with marketplaces, and that the Company expected the remaining Subway locations would also end their contracts with Olo by the fourth quarter of 2022 or first quarter of 2023 - facts Defendants claimed to have incorporated into Olo's guidance months earlier without informing the market.

In response to this news, the price of Olo common stock declined approximately 36%, from a closing price of $12.99 per share on August 11, 2022, to a closing price of $8.26 per share on August 12, 2022.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Olo's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145555

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COMTEX_419645713/2523/2022-11-24T17:54:06

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