Salesforce Gets Supreme Court Review of Shareholder’s Slack Suit

The US Supreme Court agreed to hear an appeal by Salesforce Inc.’s Slack unit in a case that could bar some shareholders from suing over company statements issued as part of a direct listing.

The justices said they will review a federal appeals court decision allowing a suit by Fiyyaz Pirani, who contends a 2019 Slack registration statement failed to disclose extent to which the company would have to provide credits to customers over service disruptions. Salesforce acquired Slack in 2021.

Salesforce argues that Pirani lacks legal standing to sue under Sections 11 and 12 of the 1933 Securities ...