Slack Suit Should Proceed in District Post-SCOTUS, Investor Says

Slack Technologies Inc., a subsidiary of Salesforce Inc., should face allegations that the company’s 2019 registration statement failed to disclose the extent to which Slack would have to provide credits to customers over service disruptions, a shareholder says in a supplemental brief.

The US Supreme Court in June set aside a ruling that had let investor Fiyyaz Pirani’s suit go forward, ruling that federal securities law only authorizes litigation over registration statements by shareholders who bought shares issued under those documents.

Now Pirani seeks to revive his claims at appeal, arguing that he purchased shares traceable to the registration ...