direct-listing

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Case Title Lower Court Docketed Status Flags Tags Question Presented
25-44 Fiyyaz Pirani v. Slack Technologies, Inc., et al. Ninth Circuit 2025-07-14 Denied Response Waived burden-shifting circuit-conflict direct-listing prospectus-liability registration-requirement securities-act 1. Whether Section 12(a)(2) of the Securities Act of 1933 requires plaintiffs to plead and prove that they bought shares registered in the offering fo…