The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Slack Technologies, Inc. (NYSE: WORK) Class A common stock pursuant and/or traceable to the Company’s registration statement and prospectus for the resale whereby Slack began trading as a public company on or around June 20, 2019.
According to the Slack lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Company’s Slack Platform was susceptible to recurring service-level disruptions; (2) that such disruptions were increasingly likely to occur as the Company scaled its services to a larger user base; (3) that the Company provides credits even if a customer was not specifically affected by service-level disruptions; (4) that, as a result, any service-level disruptions would have a material adverse impact on the Company’s financial results; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Slack you have until November 18, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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