SAN DIEGO, Sept. 4, 2019 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Slack Technologies, Inc. (NYSE: Work) ("Slack") for violations of federal securities laws.
On or about June 20, 2019, Slack sold 118.4 million shares of stock in its initial public stock offering (the "IPO"), at $38.50 a share raising $ 4,559,541,140 in new capital. However, since the IPO, Slack stock has plunged, on September 4, 2019, in aftermarket trading; the stock was trading at $26.10.
On September 4, 2019, Slack reported second-quarter fiscal 2019 results and issued guidance for the third- quarter. Slack's guidance calls for a loss greater than analysts had expected.
Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its June 2019 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.
If you have information that could assist in this investigation, or if you are a Slack shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP