MONSEY, N.Y., Sept. 24, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Smartsheet, Inc. (NYSE: SMAR) (“Smartsheet”) to Vista Equity Partners and Blackstone for $56.50 per share in cash. The sales price is below the price target for Smartsheet of numerous Wall Street analysts (source: TipRanks).
If you remain a Smartsheet shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/smartsheet/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On September 24, 2024, Smartsheet announced that it had agreed to be sold to Vista Equity Partners and Blackstone for $56.50 per share in cash.
Notably, according to TipRanks, the sales price of $56.50 per share is below the price target for Smartsheet of numerous Wall Street analysts, including:
- Steve Enders at Citi ($63.00 per share)
- John Difucci at Guggenheim ($62.00 per share)
- Shebly Seyrafi at FBN Securities ($60.00 per share)
- Pinjalim Bora at J.P. Morgan ($60.00 per share)
- David Hynes at Canaccord Genuity ($60.00 per share)
- Michael Berg at Wells Fargo ($60.00 per share)
“We are investigating whether the Smartsheet Board of Directors acted in the best interests of Smartsheet shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Smartsheet shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
