Okta Class Action Lawsuit OKTA | Deadline August 5, 2022

Okta Class Action Lawsuit

Okta is facing a class action lawsuit (Okta Class Action Lawsuit) alleging that the Company made 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.

If you incurred a loss on OKTA stocks purchased between March 5, 2021 and March 22, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Northern District of California, and our firm is reaching out to investors to discuss their legal rights.

If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.

You only have until July 19, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.

Okta Class Action

The Portnoy Law Firm notifies Okta, Inc. (NASDAQ: OKTA) that a class action lawsuit has been filed on behalf of investors. LOS ANGELES, JULY 08, 2022 (GLOBE NEWSWIRE) — Investors in Okta who suffered financial losses are urged to get in touch with Lesley Portnoy, an attorney. Okta offers identification solutions for large firms, small and medium-sized businesses, educational institutions, nonprofit organizations, and governmental organizations both domestically and abroad.

Okta Lawsuit

There are allegations against OKTA that the business made materially misleading and/or deceptive claims and/or omitted information that: I Okta had insufficient
cybersecurity measures; (ii) consequently, Okta’s systems were exposed to
data breaches; (iii) Okta did, in fact, experience a data breach as a result of a
hacker collective, which may have impacted hundreds of Okta users; (iv)
Okta initially failed to disclose and then downplayed the seriousness of
the data breach; (v) once made public, everything mentioned above was likely to have a damage Okta’s operations, finances, and reputation negatively by a
repute; (vi) as a result, the Company’s public comments were
At all periods that matter, it was materially false and misleading.

OKTA Class Action Lawsuit

SAN DIEGO, July 16, 2022 /PRNewswire/ — Robbins Geller Rudman & Dowd LLP alerts shareholders that the deadline to request appointment as lead plaintiff in City of Miami Fire Fighters’ and Police Officers’ Retirement Trust v. Okta, Inc., No. 22-cv-02990 has passed. Investors who bought or otherwise acquired Okta, Inc. (NASDAQ: OKTA) securities between March 5, 2021 and March 22, 2022, inclusive ( (N.D. Cal.). The Securities Exchange Act of 1934 is allegedly violated by Okta and some of its top executive officers in the class action lawsuit. Okta offers identity solutions to large corporations, small and medium-sized businesses, educational institutions, nonprofit organizations, and governmental organizations in the United States and abroad.

OKTA Class Action

Shareholders of Okta, Inc. (“Okta” or the “Company”) (NasdaqGS: OKTA), if they bought the Company’s securities between March 5, 2021 and March 22, 2022, inclusive, are notified of this alert by securities litigation law firm Kuznicki Law PLLC (the “Class Period”). Applications to serve as the lead plaintiff in the securities class action lawsuit must be submitted by shareholders by July 19, 2022.

OKTA Lawsuit

Okta and a few of its officials are accused of breaking federal securities laws by neglecting to disclose important facts throughout the Class Period. On March 22, 2022, the Company disclosed that it had detected an attempted hacking attack in late January 2022, and that, “[b]ased on our investigation to date, there is no evidence of ongoing malicious activity beyond the activity detected in January.” Later that same day, the Company disclosed that “[a]fter a thorough analysis of [the hackers’] claims, we have concluded that a small percentage of customers – approximately 2.5% – have potentially been impacted and whose data may have been viewed or acted upon.”

OKTA stock

Investors of Okta (OKTA -0.79%) bullied the market early on Monday, as the stock rose 7% by 12:30 p.m. ET, vs a 2.7% increase in the S&P 500. The identity management software specialist’s recent losses were partially offset by that gain, although shares are still down significantly for the year. In fact, Okta has decreased by 77% since the year 2022 began. The wider decrease paved the way for today’s stock price surge, which materialized as investors’ outlook for equities as a whole improved.