Raine Group LLC likely drove Olo Inc. into an underpriced $2 billion sale to Thoma Bravo LLC that prioritized the private equity firm’s exit timeline over shareholder value, according to a hedge fund lawsuit.
An AQR Capital Management LLC affiliate sued Olo for deal documents Tuesday, saying the restaurant software maker is sitting on internal files it needs to make an informed choice about bringing a legal challenge. Funds holding 5.8 million shares have tentatively opted to seek court appraisal of their shares, but they’re running out of time to decide on a firm path forward, the filing says.
Under ...