- May 23, 2022
- Posted by: Mainframe Consulting
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Okta, Inc. (“Okta” or the “Company”) (NASDAQ: OKTA) investors concerning the Company’s possible violations of federal securities laws.
On or around March 21, 2022, hackers posted screenshots showing what they claimed was Okta’s internal company environment. In response, the Company’s CEO disclosed that in late January 2022, Okta had detected an attempt to compromise the account of a third party customer support engineer working for one of its subprocessors, and that the matter was “investigated and contained by the subprocessor.” The CEO stated that the hackers’ screenshots were connected to the event and that, based on the Company’s investigation, there was “no evidence of ongoing malicious activity.”
On this news, Okta’s stock fell $2.98, or 1.8%, to close at $166.43 per share on March 22, 2022, thereby injuring investors.
Then, on March 22, 2022, after the market had closed, the Company disclosed that approximately 2.5% of customers had potentially been impacted by the hackers and had their data “viewed or acted upon.”
On this news, Okta’s stock fell $17.88, or 10.7%, to close at $148.55 per share on March 23,2022, thereby injuring investors further.
If you purchased Okta securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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Published at Mon, 23 May 2022 21:30:00 +0000