Smartsheet Inc. Class A Common Stock (NYSE: SMAR)
38 Days left to seek lead plaintiff status.
The Complaint alleges that in connection with the Company's solicitation of stockholder approval of the Buyout, Defendants issued and filed with the SEC a false and misleading Schedule 14A Proxy statement, as amended (the “Proxy”). Defendants used the Proxy to intentionally mischaracterize the Company’s financial success and performance during and in the context of the Company’s sales process. Specifically, Defendants deliberately cast the Company’s quarterly earnings in a negative light in the Proxy, and emphasized a financial metric that it apparently made up just for the purposes of soliciting approval for the Buyout. Additionally, it was alleged that Defendant Mader failed to use reasonable care in the fulfillment of his disclosure duties.