Okta Directors Fumbled Merger, Concealed Hack, Investor Says

Okta Inc. leadership is responsible for the poor integration of a company Okta acquired, the resulting “inattention” to security culminating in a data breach, and the decision to keep the hacking attack secret for two months, a shareholder says.

The result was a loss of customer trust, a drop in stock price, and the potential for “substantial liability,” LR Trust says in a complaint filed Tuesday in the US District Court for the Northern District of California.

Okta CEO Todd McKinnon and eight others are named as defendants in the suit.

The user authentication software company acquired Auth0 in March ...