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(Reuters) – The U.S. Supreme Court on Tuesday agreed to hear a bid by Slack Technologies (NYSE:WORK) Inc, part of Salesforce (NYSE:CRM) Inc, 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 can pursue a class action lawsuit against the company and its executives without proving that the shares he bought in Slack’s direct listing were registered, rather than unregistered.
