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Investigation announced for Long-Term Investors in Okta, Inc. (NASDAQ: OKTA) over possible Wrongdoing

09-20-2022 02:07 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Okta, Inc. (NASDAQ: OKTA) shares.

An investigation on behalf of current long term investors in Okta, Inc. (NASDAQ: OKTA) shares.

An investigation was announced for current long-term investors in shares of Okta, Inc. (NASDAQ: OKTA) concerning potential breaches of fiduciary duties by certain directors of Okta, Inc.

Investors who are current long term investors in Okta, Inc. (NASDAQ: OKTA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in (NASDAQ: OKTA stocks follows a lawsuit filed against Okta, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: OKTA stocks, concerns whether certain Okta directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that: Okta had inadequate cybersecurity controls, that as a result, Okta's systems were vulnerable to data breaches, that Okta ultimately did experience a data breach caused by a hacking group, which potentially affected hundreds of Okta customers, that Okta initially did not disclose and subsequently downplayed the severity of the data breach, that all the foregoing, once revealed, was likely to have a material negative impact on Okta's business, financial condition, and reputation, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Okta, Inc. (NASDAQ: OKTA) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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