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Legal Action Announced for Smartsheet Investors

In a significant move for shareholders, Bronstein, Gewirtz & Grossman LLC, a well-known law firm specializing in investor rights, has filed a class action lawsuit against Smartsheet Inc., a leading platform for collaboration and project management. This lawsuit, which will represent all former shareholders of Smartsheet, stems from allegations of investor harm related to misleading statements made during the company's recent merger.

Background of the Class Action

The class action suit arises from a merger involving Smartsheet and a consortium of investment funds led by Blackstone, Vista Equity Partners, and the Abu Dhabi Investment Authority. This merger, finalized in January 2025, has raised eyebrows among investors who are now questioning the integrity of the communications leading to this business decision.

According to the lawsuit, the defendants are accused of issuing a misleading Schedule 14A Proxy Statement to the SEC that obscured vital information about Smartsheet’s financial performance at the time. The complaint outlines several key allegations:

1. False and Misleading Statements: The Proxy allegedly contained information that misrepresented the company’s financial health to solicit shareholder approval, which was critical for the merger to proceed.
2. Deliberate Misrepresentation: It is claimed that the presentation of Smartsheet’s quarterly earnings painted an unfairly negative picture, while a newly introduced financial metric appeared to distort facts to favor the merger.
3. Negligence in Disclosure: It specifically criticizes Mark P. Mader, Smartsheet's CEO, for failing to provide accurate and transparent disclosures, further eroding investor trust.

These points raise crucial questions about the transparency of the company's operations during a pivotal moment for its future. The lawsuit seeks to hold the defendants accountable for these alleged violations of federal securities law.

Next Steps for Investors

Investors who acquired shares of Smartsheet during the merger process are encouraged to join this class action by visiting the law firm’s website for detailed information. The firm's site provides resources for potential plaintiffs, including the ability to review the complaint and understand the process for joining the case. Additionally, interested parties must act before February 9, 2026, to be considered for lead plaintiff status.

The legal representation by Bronstein, Gewirtz & Grossman LLC comes with no upfront costs for investors. The firm operates on a contingency fee basis, meaning they only recoup expenses and legal fees if the case is successful in recovering losses for the investors.

Why Choose Bronstein, Gewirtz & Grossman?

Recognized as a prominent player in securities litigation, Bronstein, Gewirtz & Grossman LLC has a track record for successfully representing investors in class actions and shareholder derivative suits. Over the years, they have secured substantial recoveries for clients who suffered from unfair practices in the financial markets.

Peretz Bronstein, one of the founding partners, emphasizes their dedication to maintaining market integrity and protecting investor interests: “Our practice centers around restoring investor capital and holding corporations accountable for their actions.”

For updates on the case and further details, investors can connect with Bronstein, Gewirtz & Grossman through their various social media channels on LinkedIn, X, Facebook, and Instagram.

As the situation evolves, shareholders of Smartsheet should stay informed to ensure that their rights as investors are secured during this tumultuous time for the company.