Former shareholders of Smartsheet Inc. who hold significant shares have the chance to take a leadership role in a class action lawsuit. The lawsuit claims that these shareholders approved the company’s merger based on a proxy statement that contained misleading information, resulting in an unfair merger price.
The case is being managed by RGRD Law, which is seeking individuals with substantial holdings to represent the class. The outcome could impact the compensation received by shareholders involved in the merger.
**Why this matters**
This lawsuit addresses concerns about transparency and fairness in the merger process. If the allegations are proven, it could lead to adjustments in the merger compensation and set precedents for how proxy statements are prepared and reviewed in future corporate transactions.