Mealey's (April 23, 2020, 1:32 PM EDT) -- SAN FRANCISCO — In what she deemed an “apparent” issue of first impression stemming from regulatory developments approved by the Securities and Exchange Commission in 2018, a California federal judge on April 21 ruled that investors who purchase securities in a direct listing “in which registered and unregistered shares are made publicly tradeable at the same time” may bring claims under Section 11 of the Securities Act of 1933 (Fiyyaz Pirani v. Slack Technologies Inc., et al., No. 19-5857, N.D. Calif., 2020 U.S. Dist. LEXIS 70177)....