The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Okta, Inc.
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.
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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.