The Supreme Court ruled in favor of a Big Tech company on June 1, issuing a unanimous ruling that limits the power of shareholders to sue over misleading statements made by companies when selling shares in a direct listing. Justice Neil Gorsuch wrote the court’s unanimous opinion (pdf) in Slack Technologies v. Pirani (court file…
Supreme Court Reverses Ruling Against Slack Technologies Over Direct Listing
June 1, 2023
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Supreme Court Will Hear Slack Technologies’ Appeal Against 9th Circuit Decision Allowing Class Action to Proceed
The Supreme Court decided Dec. 13 that it will take up the appeal of instant-messaging company Slack Technologies Inc. which is accused of making false statements in connection with public disclosures it made in 2019 when it offered corporate shares for sale. Pro-business groups say a lower court ruling against the company that allowed the…
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