San Diego, CA -- (SBWIRE) -- 04/15/2022 -- An investigation was announced concerning potential securities laws violations by Okta, Inc. in connection with certain financial statements.

Investors who purchased shares of Okta, Inc. (NASDAQ: OKTA), 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 focuses on whether a series of statements by Okta, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based Okta, Inc. provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. On March 22, 2022, Okta, Inc. (NASDAQ: OKTA) confirmed that in January 2022 the Company had experienced a data breach caused by a hacking group known as Lapsus$, which potentially affected as many as 366 Okta customers. Separately, Okta, Inc. was downgraded by Raymond James from "strong buy" to "market perform," citing a "continually disconnected CIAM go-to-market strategy (i.e. still separate reps for Auth0/Okta, no communication to incent channel cross-sell, no evidence of improved technology/integration [...]) While partners were willing to trust Okta's track record, the handling of its latest security incident adds to our mounting concerns."

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

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.