The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of On24, Inc. (NYSE: ONTF) who purchased pursuant and traceable to the offering issued in connection with the Company’s February 2, 2021, initial public offering. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the On24 lawsuit alleges that the surge in COVID-19 customers observed in the lead up to the IPO consisted of a significant number that did not fit ON24’s traditional customer profile, and, as a result, were significantly less likely to renew their contracts.
Shareholders have until January 3, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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