U.S. Supreme Court Throws Out Lower Court Decision Allowing Securities Lawsuit Against Salesforce's Slack Technologies Over 2019 Direct Listing
Portfolio Pulse from Happy Mohamed
The U.S. Supreme Court has thrown out a lower court decision that allowed a securities lawsuit against Salesforce's Slack Technologies over its 2019 direct listing. The lawsuit claimed that Slack misled investors about its growth prospects.
June 01, 2023 | 2:07 pm
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POSITIVE IMPACT
The U.S. Supreme Court's decision to throw out a securities lawsuit against Salesforce's Slack Technologies may have a positive short-term impact on Salesforce's stock price.
The dismissal of the lawsuit removes a potential legal liability for Salesforce, which could have resulted in financial penalties or reputational damage. This may lead to increased investor confidence and a positive short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100