Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Smartsheet Inc. (NYSE: SMAR) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Smartsheet securities between June 1, 2024, and September 23, 2024, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
Smartsheet Case Details
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company. Specifically, the complaint alleges that:
- Blackstone Inc. and Vista Equity Partners Management, LLC made credible offers to acquire all of Smartsheet’s outstanding stock at a significant premium to its trading price;
- despite this knowledge, Defendants repurchased approximately 1,128,000 shares from unsuspecting investors for approximately $50 million, while making misleading statements touting the repurchase activity without disclosing the existence of the acquisition offers; and
- as a result of the foregoing, Defendants’ statements regarding the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What’s Next for Smartsheet Investors?
A class action lawsuit has already been filed. You may review a copy of the Complaint. You may also contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 917-590-0911. If you suffered a loss in Smartsheet you have until October 5, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
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About Bronstein, Gewirtz & Grossman, LLC
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”