Supreme Court Will Hear Slack Technologies’ Appeal Against 9th Circuit Decision Allowing Class Action to Proceed

[Epoch-Times-Bot]

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 lawsuit to move forward unnecessarily interfered in markets and would ultimately hurt investors by making it more difficult to do business. The investors, on the other hand, say they were treated unfairly and are demanding redress.
San Francisco-based Slack was purchased for close to $28 billion in a cash and stock transaction. But instead of going the usual route and making a formal public stock offering, the company made a direct listing after the U.S. Securities and Exchange Commission approved the alternative procedure in 2018....

Source: Supreme Court Will Hear Slack Technologies' Appeal Against 9th Circuit Decision Allowing Class Action to Proceed

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