NEW ORLEANS, May 27, 2022 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 19, 2022 to file lead plaintiff applications in a securities class action lawsuit against Okta, Inc. ("Okta" or the "Company") (NasdaqGS: OKTA), if they purchased the Company's securities between March 5, 2021 and March 22, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.
If you purchased securities of Okta as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-okta/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 19, 2022.
Okta and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 22, 2022, the Company disclosed that it had detected an attempted hacking attack in late January 2022, and that, "[b]ased on our investigation to date, there is no evidence of ongoing malicious activity beyond the activity detected in January." Later that same day, the Company disclosed that "[a]fter a thorough analysis of [the hackers'] claims, we have concluded that a small percentage of customers – approximately 2.5% – have potentially been impacted and whose data may have been viewed or acted upon."
On this news, shares of Okta fell $17.88 per share, or 10.74%, to close at $148.55 per share on March 23, 2022.
The case is City of Miami Fire Fighters' and Police Officers' Retirement Trust v. Okta, Inc., No. 22-cv-02990.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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