Cision PR Newswire
OKTA Investors Have Opportunity to Lead Okta, Inc. Securities Fraud Lawsuit
News provided byLaw Offices of Howard G. Smith
Jun 22, 2022, 11:52 PM ET
Shareholders with $100,000 losses or more are encouraged to contact the firm.
BENSALEM, Pa., June 22, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Okta, Inc. ("Okta" or the "Company") (NASDAQ: OKTA).
Class Period: March 5, 2021 – March 22, 2022
Lead Plaintiff Deadline: July 19, 2022
Investors suffering losses on their Okta investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Okta had inadequate cybersecurity controls; (2) as a result, Okta's systems were vulnerable to data breaches; (3) Okta ultimately did experience a data breach caused by a hacking group, which potentially affected hundreds of Okta customers; (4) Okta initially did not disclose and subsequently downplayed the severity of the data breach; (5) all the foregoing, once revealed, was likely to have a material negative impact on Okta's business, financial condition, and reputation; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Law Offices of Howard G. Smith