NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Okta, Inc. (“Okta” or the “Company”) (NASDAQ: OKTA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Okta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 28, 2023, Okta disclosed that hackers who breached the Company’s network in September stole information on all users of Okta’s customer support system—a scope significantly larger than the 1% of customers that Okta previously said were affected. Then, on November 29, 2023, Okta announced its financial results for the third quarter of 2023. Among other items, Okta predicted revenue growth of at least 10% for fiscal year 2025, missing analyst expectations of 15%.
Following these disclosures, Okta’s stock price fell $5.56 per share, or 7.66%, over two trading sessions, closing at $67.05 per share on November 30, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
