Smartsheet Faces Class Action Over Alleged Hidden Acquisition Offers

The complaint filed by the law firm Bronstein, Gewirtz & Grossman alleges that Smartsheet executives failed to disclose credible acquisition offers from Blackstone Inc. and Vista Equity Partners Management. According to the filing, the company repurchased approximately 1,128,000 shares for $50 million during the period in question, all while issuing statements that allegedly obscured the existence of these buyout bids.

Investors who incurred losses during the designated class period have until October 5, 2026, to petition the court to serve as lead plaintiff. Participation in potential recovery does not require taking on this specific legal role. The firm operates on a contingency basis, meaning legal fees and expenses are sought from the court only upon a successful recovery. Peretz Bronstein, founding partner at the firm, stated that the action aims to restore investor capital and enforce corporate accountability regarding the disclosures made to the market.