US Supreme Court justices on Monday weighed a bid by Salesforce Inc's Slack Technologies to avoid a lawsuit over its 2019 direct listing in a case that could undermine the ability of shareholders to sue companies for alleged misstatements when they go public. The justices heard arguments in an appeal by Slack, which makes workplace communications software, of a lower court ruling that let the proposed class action lawsuit filed by shareholder Fiyyaz Pirani for alleged violations of a federal investor protection law proceed.
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Tuesday, April 18, 2023
US Supreme Court weighs Slack direct listing class action
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