Slack Technologies, LLC, fka Slack Technologies, Inc., et al., Petitioners v. Fiyyaz Pirani

  1. June 01, 2023

    Justices Narrow Path To Direct Listing Suits

    The U.S. Supreme Court on Thursday limited the ability of shareholders to sue companies that go public via a direct listing, while not completely shutting down a lawsuit brought against popular messaging service Slack Technologies Inc.

  2. April 17, 2023

    High Court Previews Possible Path To Direct Listing Suits

    A couple of conservative U.S. Supreme Court justices expressed discomfort Monday with handing messaging app Slack a total victory in a shareholder suit over disclosures it made ahead of its listing on the New York Stock Exchange, signaling a possible way forward for investors seeking to sue companies that go public via a so-called direct listing. 

  3. April 14, 2023

    Up Next At High Court: Direct Listings And FCA Showdown

    The U.S. Supreme Court will kick off its final oral argument session of the term this coming week with a major showdown between whistleblowers and the False Claims Act defense bar, along with a case examining investor class actions stemming from a novel way for companies to go public. Here, Law360 highlights what to expect.

  4. April 13, 2023

    Investors Fear Slack's High Court Case Will 'Gut' Protections

    Shareholder advocates have publicly expressed concern that a U.S. Supreme Court case involving the popular messaging service Slack could strike at the heart of a Great Depression-era law that aims to protect investors of newly public companies, as the high court gears up to hear oral arguments in the case on Monday.

  5. March 07, 2023

    Ex-SEC Officials Side With Slack Investor In High Court Appeal

    Four former members of the U.S. Securities and Exchange Commission have asked the U.S. Supreme Court to "proceed carefully" when ruling on a lawsuit by a Slack investor, arguing that a decision in the company's favor could harm shareholders of newly public companies and have a chilling effect on future SEC rulemaking.

  6. February 27, 2023

    Slack Investor Urges Justices To Not Undo Direct Listing Suit

    The U.S. Supreme Court should not permit Slack Technologies LLC to "evade" a lawsuit accusing it of misleading investors ahead of its 2019 direct listing on the New York Stock Exchange by arguing for an interpretation of a 90-year law that Congress never intended, the shareholder leading a prospective class action against the company argued on Monday.

  7. February 03, 2023

    Former SEC Chair Clayton Backs Slack At High Court

    The U.S. Supreme Court should throw out an investor lawsuit challenging statements made by Slack Technologies LLC ahead of its New York Stock Exchange debut if it wants to avoid a "radical judicial rewrite" of the laws governing newly public companies, former U.S. Securities and Exchange Commission Chair Jay Clayton said Friday.

  8. January 02, 2023

    7 Supreme Court Cases To Watch In 2023

    The new year brings a host of hot-button cases for the U.S. Supreme Court justices, who will tackle everything from President Joe Biden's student debt relief plan to Section 230 immunity for Big Tech companies over the next six months before the summer recess. Here, Law360 highlights the big-ticket items.

  9. December 22, 2022

    High Court Ruling On Direct Listing Appeal Could Be Pivotal

    The U.S. Supreme Court's agreement to hear Slack's appeal of an investor suit that seeks to hold the messaging company liable for alleged misstatements before its direct listing could impact standards governing how companies access public markets, legal experts say.

  10. December 13, 2022

    Supreme Court To Hear Slack Direct Listing Appeal

    The U.S. Supreme Court said Tuesday that it will hear an appeal brought by popular messaging service Slack, in a case that could determine the future of investor lawsuits brought against companies that go public via direct listing.