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OKTA.US
id: 226
On August 31, 2022, Okta released Q2 2022 earnings report and disclosed that it was having challenges integrating Auth0, the customer identity software company it acquired last spring.
Specifically, the Company mentioned that it has issues with integrating the Auth0 sales force, and said it was reducing hiring goals in the second half of the year to focus on profitability.
On this news, Okta shares dropped by more than 33% and lost $ 4.6 billion of its capitalization on September 01, 2022.
Given all the veils, there are suspicions about the effectiveness of management, the integrity of disclosures, and the reliability of former representations made by the Company to shareholders.
Case Status
Attorney Investigation
Alleged Offence
Mismanagement
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
31 August 2022
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