The Law Offices of Frank R. Cruz Announces Investigation of Okta, Inc. (OKTA) on Behalf of Investors

Shareholders with $100,000 losses or more are encouraged to contact the firm.

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Okta, Inc. (“Okta” or the “Company”) (NASDAQ: OKTA) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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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.

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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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