The U.S. Supreme Court on Tuesday agreed to hear a bid by Slack Technologies Inc, part of Salesforce Inc (CRM.N), to avoid a lawsuit accusing the workplace communication software company of misstatements in its 2019 direct listing – an alternative to an initial public offering.
The justices took up San Francisco-based Slack’s appeal of a lower court’s ruling last year that an investor named Fiyyaz Pirani could pursue a class action lawsuit against the company and its executives without proving the shares he bought in Slack’s direct listing were registered, rather than unregistered.
Source: U.S. Supreme Court to hear dispute over Slack’s direct stock listing | Reuters
