Smartsheet(US:SMAR) Globenewswire·2025-12-15 17:00Core Viewpoint - A class action lawsuit has been filed against Smartsheet Inc. regarding its January 2025 sale to a consortium including Blackstone, Vista Equity Partners, and Platinum Falcon, alleging violations of federal securities laws [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover damages for investors who purchased Smartsheet shares in connection with the January 2025 merger [2]. - Allegations include that defendants issued a misleading Schedule 14A Proxy Statement to solicit stockholder approval for the buyout [3]. - Defendants are accused of mischaracterizing Smartsheet's financial performance and using a financial metric created solely for the buyout approval [3]. - Mark P. Mader, a defendant, is claimed to have failed in his disclosure obligations, leading to materially false and misleading statements about Smartsheet's business [3]. Group 2: Next Steps for Investors - Investors who purchased shares in connection with the merger have until February 9, 2026, to request to be appointed as lead plaintiff in the class action [4]. - The law firm representing the investors operates on a contingency fee basis, meaning they will only recover costs if successful [5]. Group 3: Law Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm specializing in securities fraud class actions and has recovered hundreds of millions for investors [6]. - The firm emphasizes restoring investor capital and ensuring corporate accountability to maintain market integrity [6].