Smartsheet Investors Class Action Notice Issued
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2026
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Source: Globenewswire
- Class Action Initiated: The Portnoy Law Firm has advised Smartsheet investors of a class action for those who purchased securities before October 25, 2024, with a deadline of February 24, 2026, for filing a lead plaintiff motion to protect their legal rights.
- False Information Allegations: The lawsuit alleges that Smartsheet filed a false and misleading Schedule 14A Proxy statement with the SEC during the solicitation of stockholder approval for the merger, resulting in shareholders receiving an unfair cash price of $56.50 per share, adversely affecting shareholder interests.
- Concealment of Financial Metrics: The complaint highlights that Smartsheet failed to disclose its Annual Recurring Revenue (ARR) metric in the Proxy, despite management promoting it as the best indicator of future financial performance, preventing shareholders from fully assessing the company's financial prospects.
- Missing Forecast Information: Additionally, the lawsuit claims that the Proxy did not disclose January 2024 forecasts prepared in the ordinary course of business, hindering shareholders' ability to compare and evaluate changes between the projections and Smartsheet's actual results and guidance.
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.
