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Would shareholders have a case to make for fraud here? Slack clearly didn't want this information getting out pre-IPO, as a security disclosure in this case wou

Would shareholders have a case to make for fraud here? Slack clearly didn't want this information getting out pre-IPO, as a security disclosure in this case would certainly impact public confidence in the company.

lonelappde 7y ago
bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud
jdavis703 7y ago
Every tech IPO filing has a generic statement saying something like "our software may contain bugs, including bugs that we cannot fix blah blah blah." So unless Slack has made fraudulent statements about this specific breach, I doubt they've done anything illegal WRT securities fraud.
- gmmeyer 7y ago
  I'm sure shareholders will sue, because they try to turn everything into a violation of securities law. But securities law shouldn't be the only way to regulate companies imo
mtgx 7y ago
This is large companies must notify the authorities within days of such a data breach in the EU now - no room for "guessing" whether or not the companies should be sued over this type of fraud.