Slack Sued Derivatively After Securities Class Moves Ahead (1)

Slack Technologies Inc. allegedly misled investors about disruptions to its app and related credits provided to users, according to a pair of shareholder derivative suits filed in Delaware federal district court Monday.

The communications platform’s 2019 direct listing documents didn’t disclose known vulnerabilities that could affect financial results, the nearly identical complaints filed in the U.S. District Court for the District of Delaware said. A would-be class suit alleging similar problems survived Slack’s dismissal attempt April 21.

Slack allegedly failed to reveal that its messaging app “contained certain vulnerabilities that had already caused significant service outages,” the complaints said.

The ...