Smartsheet Inc. Faces Class Action Lawsuit Post-Blackstone Buyout
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: PRnewswire
- Class Action Initiation: Rosen Law Firm has filed a class action lawsuit on behalf of all former Smartsheet shareholders regarding the January 2025 acquisition by Blackstone and its affiliates, alleging misleading information during the shareholder approval process.
- False Information Allegations: The lawsuit claims that defendants intentionally misrepresented Smartsheet's financial performance in the SEC Proxy statement, emphasizing a fabricated financial metric that influenced shareholder voting decisions for the buyout.
- Legal Procedure Deadline: Former shareholders wishing to serve as lead plaintiffs must file with the court by February 24, 2026, a deadline that could impact shareholder participation and potential compensation.
- Law Firm Background: Rosen Law Firm is renowned for its successful track record in securities class actions, having recovered over $438 million for investors in 2019 alone, showcasing its strength and experience in handling such cases.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
