SAN DIEGO, July 16, 2022 /PRNewswire/ — Robbins Geller-Rudman & Dowd LLP announces that investors who bought or acquired Okta, Inc. (NASDAQ: OKTA) values between March 5, 2021 Y March 22, 2022inclusive (the “Class Period”) have up to this Tuesday, July 19, 2022 apply for appointment as lead plaintiff in miami city Firefighters and Police Officers Retirement Trust v. Okta, Inc., No. 22-cv-02990 (ND Cal.). the okta The class action charges Okta and some of its top executive officers with violations of the 1934 Securities Exchange Act.
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ALLEGATIONS OF THE CASE: Okta provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profit organizations and government agencies in the United States and internationally.
the okta the class action alleges that, during the Class Period, the defendants made false and misleading statements and 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 experienced a data breach caused by a group of hackers, potentially affecting hundreds of Okta customers; (iv) Okta initially failed to disclose and subsequently downplayed the severity of the data breach; (v) all of the foregoing, once disclosed, would likely have a material adverse impact on Okta’s business, financial condition and reputation; and (vi) as a result, Okta’s public statements were materially false and misleading at all material times.
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THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Okta securities during the Class Period to apply for appointment as lead plaintiff. A lead plaintiff is generally the plaintiff with the greatest financial interest in the relief sought by the putative class that is also typical and proper of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action. The lead plaintiff may select a law firm of her choice to litigate the class action. An investor’s ability to participate in any potential future recovery is not dependent on him acting as the lead claimant.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The firm is ranked No. 1 in the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone, more than triple the amount recovered by any other plaintiff firm. With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest class action recovery of values in history: $7.2 billion – in In re Enron Corp. Sec. Litigation Please visit the following page for more information:
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