SMAR INVESTOR ALERT: Former Smartsheet Inc. Shareholders with Substantial Holdings Have Opportunity to Lead the Smartsheet Class Action Lawsuit

SAN DIEGO, Jan. 12, 2026 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that Smartsheet Inc. (NYSE: SMAR) shareholders who held Smartsheet securities as of the record date, October 25, 2024, and were harmed by defendants' alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 in connection with the acquisition of Smartsheet by Blackstone Inc., Vista Equity Partners Management, LLC, and the Abu Dhabi Investment Authority (the "Merger"), have until February 24, 2026 to seek appointment as lead plaintiff of the Smartsheet class action lawsuit.  The Smartsheet class action is captioned KaraEftimoglu v. Mader, No. 25-cv-02530 (W.D. Wash.).

If you held substantial Smartsheet securities as of the record date and wish to serve as lead plaintiff of the Smartsheet class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-smartsheet-inc-class-action-lawsuit-smar.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Smartsheet is an enterprise software company providing software-as-a-service ("SaaS") work management solutions.  As a SaaS company, Smartsheet tracked its Annual Recurring Revenue ("ARR") metric, which normalized contracted recurring revenue components of its subscription services to a one-year period.

The Smartsheet class action lawsuit alleges that in connection with Smartsheet's solicitation of stockholder approval of the Merger, defendants issued and filed with the SEC a false and misleading Schedule 14A Proxy statement, as amended ("Proxy").  And as a direct result of the misleading Proxy, Smartsheet's former shareholders approved the Merger and received the unfair price of $56.50 in cash for each share of Smartsheet common stock they owned, the complaint alleges.

Moreover, the Smartsheet class action lawsuit alleges among other things that every press release published and every associated earnings call during the period covered by the narrative in the Proxy touted Smartsheet's increasing ARR metric, which management, after re-evaluating its business metrics, guided the market to rely on as the best indicator of Smartsheet's future financial performance.  Nevertheless, despite the clear materiality of this financial metric, the Proxy did not disclose this positive metric in the narrative, the complaint alleges.  Nor did the Proxy disclose the January 2024 Forecasts prepared in the ordinary course of business – and not in the midst of negotiations – thereby preventing shareholders from comparing and fully assessing Smartsheet's financial prospects, including any changes between the two sets of projections versus Smartsheet's actual results and guidance, the Smartsheet shareholder class action alleges.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who held Smartsheet securities as of the record date of the Merger to seek appointment as lead plaintiff in the Smartsheet class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Smartsheet investor class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Smartsheet shareholder class action lawsuit.  An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Smartsheet class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation.  Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors.  In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. 

Contact:          Robbins Geller Rudman & Dowd LLP          J.C. Sanchez          655 W. Broadway, Suite 1900, San Diego, CA 92101          800-449-4900          [email protected]

SOURCE Robbins Geller Rudman & Dowd LLP