SMAR Merger News: Johnson Fistel Investigates Smartsheet and its Directors and Management Following Sale
SAN DIEGO, Sept. 25, 2024 (GLOBE NEWSWIRE) — Johnson Fistel, LLP, a leading stockholder rights law firm, announced that it is investigating claims on behalf Smartsheet (NYSE:SMAR) shareholders concerning potential breaches of fiduciary duties related to the proposed sale of the Company to Blackstone and Vista Equity Partners.
On September 24, 2024, Smartsheet officially announced its acceptance of an acquisition proposal from Blackstone and Vista Equity Partners, whereby shareholders are to be compensated at the rate of $56.50 per share via an all-cash transaction, after which Smartsheet will transition to a privately held entity.
Johnson Fistel’s investigation focuses on whether Smartsheet’s board failed to satisfy its duties to the Company’s stockholders, including whether the board sufficiently pursued alternatives to the acquisition, and whether the board secured the best possible price for Smartsheet’s shares. It is particularly pertinent to note analyst projections for earnings and revenue growth, and Smartsheet shares have historically traded at a much higher price.
Stockholders of Smartsheet are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. You can click or copy and paste the following link to join this investigation:
https://www.johnsonfistel.com/investigations/Smartsheet
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