NEW YORK, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed on behalf of all former stockholders of Smartsheet Inc. (NYSE: SMAR) 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”).
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 shares of Smartsheet in connection with the January 2025 Merger of Smartsheet (the “Merger Date”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/SMAR.
Smartsheet Case Details
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
1) In connection with Smartsheet’s solicitation of stockholder approval of the Buyout, defendants issued and filed with the SEC a false and misleading Schedule 14A Proxy Statement (the “Proxy”);
2) Defendants used the Proxy to intentionally mischaracterize Smartsheet’s financial success and performance during the sales process;
3) Specifically, defendants deliberately portrayed Smartsheet’s quarterly earnings in an unduly negative light and emphasized a financial metric that was apparently created solely to solicit approval for the Buyout;
4) Defendant Mark P. Mader failed to exercise reasonable care in fulfilling his disclosure obligations; and
5) As a result of the foregoing, defendants’ statements about Smartsheet’s business, operations, and prospects were materially false and misleading at all relevant times.
What's Next for Smartsheet Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/SMAR or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you purchased SMAR shares in connection with the January 2025 sale, you have until February 9, 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.
No Cost to Smartsheet Investors
We, Bronstein, Gewirtz & Grossman LLC, 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.
Why Bronstein, Gewirtz & Grossman, LLC for Smartsheet Securities Class Action?
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. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Contact Info
Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | info@bgandg.com
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