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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Slack Technologies, Inc. (NYSE: WORK) Class A common stock who purchased 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. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Slack lawsuit alleges (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.
Shareholders have until November 18, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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