GRABAR LAW OFFICE INVESTIGATES POTENTIAL CLAIMS AGAINST OFFICERS AND DIRECTORS OF OKTA, INC. (NASDAQ: OKTA)
Grabar Law Office is investigating potential claims on behalf of Okta, Inc. (NASDAQ: OKTA) shareholders. The investigation concerns whether certain officers of Okta have breached their fiduciary duties owed to the company.
Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the U.S. and internationally. The Company offers a variety of cybersecurity products and services.
A class action complaint has been filed against Okta. The complaint alleges that defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had inadequate cybersecurity controls; (ii) as a result, the Company's systems were vulnerable to data breaches; (iii) the Company ultimately did experience a data breach caused by a hacking group, which potentially affected hundreds of Company customers; (iv) the Company 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 the Company'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.
Current Okta shareholders who have held Okta stock since before September 1, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you would like to learn more about this matter, you are encouraged to contact us at email@example.com, or call Joshua Grabar at 267-507-6085.