ON24, Inc. Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired ON24, Inc. (“ON24”) (NYSE: ONTF) common stock pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with ON24’s initial public offering (“IPO”) on or about February 3, 2021.

ON24 offers a cloud-based digital experience platform that purports to enable businesses to convert customer engagement into revenue through interactive webinars, events, and content experiences. 

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 District Court granted Defendants’ Motion to Dismiss with prejudice, and on April 4, 2024, the Lead Plaintiff appealed the dismissal to the United States Court of Appeals for the Ninth Circuit. Following written and oral arguments, on January 7, 2026, the Ninth Circuit Court affirmed in part and reversed in part the District Court’s decision, and sent the case back to the District Court to continue being litigated. However, Defendants are now asking the Supreme Court to review the Ninth Circuit Court’s decision to send the case back to continue in the District Court. As a result, the action has been paused while the Supreme Court decides whether it intends to review this matter. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. 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.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.