INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Smartsheet Inc. of Class Action Lawsuit and Upcoming Deadlines - SMAR
NEW YORK, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Smartsheet Inc. (“Smartsheet” or the “Company”) (NYSE: SMAR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Smartsheet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until February 24, 2026 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Smartsheet securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
A complaint has been filed in connection with the January 2025 sale (the “Merger” or “Buyout”) of Smartsheet to affiliates of investment funds managed by affiliates of Blackstone Inc. (collectively “Blackstone”), investment funds managed by Vista Equity Partners Management, LLC (“Vista Equity Partners” or “Vista”), and Platinum Falcon B 2018 RSC Limited, an indirect wholly owned subsidiary of the Abu Dhabi Investment Authority, which participated as an indirect minority investor in Smartsheet (“Platinum Falcon,” and together with Blackstone and Vista, the “Consortium”).
The complaint specifically alleges that, in connection with the Company’s solicitation of stockholder approval of the Buyout, Defendants issued and filed with the U.S. Securities and Exchange Commission a false and misleading Schedule 14A Proxy statement, as amended (the “Proxy”). Defendants used the Proxy to intentionally mischaracterize the Company’s financial success and performance during and in the context of the Company’s sales process. Specifically, Defendants deliberately cast the Company’s quarterly earnings in a negative light in the Proxy, and emphasized a financial metric that it apparently created solely for the purposes of soliciting approval for the Buyout.
As a result of the materially misleading Proxy, Smartsheet’s shareholders approved the Buyout. The $56.50 per share Merger Consideration fell in the middle of Qatalyst’s discounted cash flow analysis of $47.80 to $65.31 per share based on admittedly “conservative” forecasts. The Merger Consideration also fell below several analyst price targets, which had been raised following the Company’s early 2024 successes.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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