Okta Faced Investigation Over $6.5B Auth0 Acquisition and Integration Issues

Okta faced an investigation over its $6.5 billion acquisition of Auth0 and subsequent integration failures.

What is this investigation about?

On March 3, 2021, Bloomberg reported that Okta agreed to acquire rival Auth0 for approximately $6.5 billion in stock. Following the announcement, Okta’s shares dropped around 11% in extended trading.

Later, on August 31, 2022, Okta released its Q2 2022 earnings report and disclosed significant challenges integrating Auth0, including problems aligning sales forces. The company also revealed plans to reduce hiring goals for the remainder of the year to prioritize profitability.

These developments raised questions about management’s execution and the accuracy of their prior statements to investors.

The case is already under investigation by at least one reputable law firm.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify OKTA investors about potential recovery.

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