Why Slack Decision Struck A Nerve With Corporate America
By John Browne and Lauren Ormsbee (November 4, 2021, 6:02 PM EDT) -- On Nov. 3, the defendants filed an aggressive petition for rehearing and rehearing en banc asking the U.S. Court of Appeals for the Ninth Circuit to reconsider its recent pro-investor decision in Pirani v. Slack Technologies Inc.
The Slack decision addressed an important issue of first impression: Do investors have standing to pursue Securities Act claims when a company makes material misrepresentations in connection with a direct listing initial public offering?
Direct listing IPOs are a new going-public alternative to traditional IPOs and have become increasingly popular in the wake of recent U.S. Securities and Exchange Commission regulatory changes. The Slack...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!