HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Okta (OKTA) Investors with Significant Losses to Contact the Firm’s Attorneys, Firm Investigating Possible Securities Laws Violations
SAN FRANCISCO, Sept. 02, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges Okta, Inc. (NASDAQ: OKTA) investors who suffered significant losses to submit your losses now.
| Visit: www.hbsslaw.com/investor-fraud/OKTA | |
| Contact An Attorney Now: | [email protected] |
| 844-916-0895 | |
Okta, Inc. (NASDAQ: OKTA) Investigation:
The investigation focuses on Okta’s widely touted $6.5 billion May 3, 2021, acquisition of Auth0, a leading identity platform for application teams, and growth prospects for the combined company.
Specifically, after the acquisition Okta and its management repeatedly assured investors that integration of the Auth0 and Okta sales teams was progressing smoothly.
These statements came into question on Aug. 31, 2022, when Okta announced Q2 2022 financial results disclosing, in part, that “our top line metrics were not where we wanted them to be, due to challenges related to the integration of the Auth0 and Okta sales organizations” and the company lowered its calculated billings outlook for the year. During the earnings call with investors that same day, management blamed half of the billings outlook reduction on sales integration issues.
This news sent the price of Okta shares crashing over 33% lower on Sept. 1, 2022, injuring investors.
“We’re focused on investors’ losses and determining whether Okta hid problems with integrating Auth0,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Okta and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Okta should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
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