NEW YORK, June 24, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Okta, Inc. (NASDAQ: OKTA).
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The lawsuit seeks to recover losses for shareholders who purchased Okta between March 5, 2021 and March 22, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 19, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Okta, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Okta had inadequate cybersecurity controls; (ii) as a result, Okta's systems were vulnerable to data breaches; (iii) Okta ultimately did experience a data breach caused by a hacking group, which potentially affected hundreds of Okta customers; (iv) Okta initially did not disclose and subsequently downplayed the severity of the data breach; (v) all the foregoing, once revealed, was likely to have a material negative impact on Okta's business, financial condition, and reputation; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law