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News  ›  GlobeNewswire Inc.

Bronstein, Gewirtz & Grossman LLC Urges Smartsheet Inc. Investors to Act: Class Action Filed Alleging Investor Harm

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Bronstein, Gewirtz & Grossman Llc
Bronstein, Gewirtz & Grossman LLC Urges Smartsheet Inc. Investors to Act: Class Action Filed Alleging Investor Harm

A class action lawsuit has been filed against Smartsheet Inc. and its executives alleging securities fraud in connection with the January 2025 acquisition by a consortium including Blackstone, Vista Equity Partners, and the Abu Dhabi Investment Authority. The complaint claims defendants made false and misleading statements in proxy filings, mischaracterized the company's financial performance, and failed to disclose material information to stockholders.

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Blackstone is mentioned as part of the acquisition consortium but is not named as a defendant in the lawsuit; the litigation focuses on Smartsheet's disclosures rather than the acquirer's conduct.