He is the lead plaintiff in a lawsuit against Slack that will be heard in April by the Supreme Court, and he explained his motive for participating in the case.
Pirani, a 33-year-old software-entrepreneur-turned-stock-trader based in Houston, is now on his third lawsuit as a lead plaintiff. His first — against online education company 2U — was recentlyHe got involved in the 2U lawsuit after a Google alert flagged a press release from a law firm looking for affected 2U investors.
From there, he was referred by lawyers to the other two lawsuits he's leading — Slack, and most recently, Netflix.Pirani started trading stocks a few years ago after making several millions of dollars from a software company . He now manages a portfolio of about $150 million, he sayson the initial downturn from the pandemic.
He also touts the free hours he gets to spend with expensive top lawyers because of the lawsuits — a priceless alternative to doing research himself. "It helps me become a better investor."For Pirani, the whole legal process is free since his lawyers work on a contingency basis — a financial risk he says makes it fair that they get a huge cut of any winnings. Even his expenses and time spent will be covered if he wins or settles a case.
"A patent troll is looking to enrich themselves by stifling competition or stifling innovation," he adds.Pirani described the embattled billionaire as "a brilliant innovator… but at the same time he does some boneheaded, stupid things." On Friday, Muskin a San Francisco federal trial over his infamous "funding secured" tweet about taking Tesla private.
Though Pirani says he's never owned Tesla stock, "I took [the tweet] 100% seriously…everybody in the investment community took it seriously."Not everyone winces at the thought of protracted lawsuits against multibillion-dollar companies.
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