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Slack technologies inc work6/22/2023 ![]() ![]() The complaint, filed on September 19, 2019, alleges that the Registration Statement was false and misleading and omitted to state material adverse facts. On this news, the Company’s share price fell $3.69 per share, nearly 12%, over two consecutive trading sessions to close at $27.38 per share on September 6, 2019.īy the time this class action complaint was filed, Slack’s stock traded as low as $25.72 per share, a significant decline from the $26.00 per share reference price for the Offering. On September 4, 2019, Slack reported its second-quarter fiscal 2019 results and guidance for the third quarter, expecting a wider loss than analysts predicted. Such sales, if any, would be brokerage transactions on the New York Stock Exchange (“NYSE”), and Slack would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. According to the Registration Statement, the resale of the company’s stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether to sell their shares. The company registered for the resale of up to 118,429,640 shares of Class A common stock by registered shareholders at a reference price of $26.00. On June 20, 2019, the company filed its prospectus with the SEC, which forms part of the Registration Statement. (NYSE: WORK) securities pursuant to and/or traceable to the company’s June 2019 initial public offering (“IPO”). ![]() announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all investors that purchased Slack Technologies, Inc. NEW YORK, September 20, 2019 – Bragar Eagel & Squire, P.C. ![]()
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