| COMPANY |
ON24, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
21-cv-08578 |
| JUDGE |
The Honorable Yvonne Gonzalez Rogers |
| CLASS PERIOD |
Pursuant to ON24’s February 2021 initial public offering |
| SECURITY TYPE |
Common Stock |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired ON24, Inc. (“ON24”) (NYSE: ONTF) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with ON24’s February 2021 initial public offering (“IPO”).
The complaint alleges that the Registration Statement was materially false and misleading and failed to disclose, inter alia, that the surge in COVID-19 customers ON24 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.
Current Status of Case:
On March 5, 2024, The Court entered an Order granting Defendants’ Motion to Dismiss with prejudice. Lead Plaintiff filed a Notice of Appeal on April 4, 2024. On July 29, 2024, the Appellant filed the Opening Brief. This appeal is being briefed by the parties. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.