Johnson Fistel Launches Investigation Following OneStream Take-Private Transaction

SAN DIEGO, January 21, 2026 — Shareholder rights law firm Johnson Fistel, PLLP has announced a formal investigation into the recent approval by the board of OneStream, Inc. (NASDAQ: OS) of a proposed take-private transaction valued at approximately $6.4 billion. The inquiry is focused on whether the company’s directors and officers fulfilled their fiduciary duties and acted in the best interests of all shareholders during the decision-making process.

Details of the Take-Private Transaction

On January 6, 2026, OneStream publicly disclosed that its Board of Directors had approved a definitive agreement under which the company will be taken private in an all-cash deal. Under the terms of this transaction, each public shareholder will receive $24.00 per share in cash. The deal involves a consortium of private-equity participants led by Hg Capital, with minority investors including General Atlantic and Tidemark.

The take-private deal marks a significant change in structure for OneStream, which is currently publicly traded on the NASDAQ stock exchange. The offer price reflects the total consideration of approximately $6.4 billion. As part of the transaction closing, existing shareholders, including larger institutional holders, will monetize their ownership stakes.

Investigation Focus and Shareholder Rights Concerns

Johnson Fistel’s investigation examines whether the Board’s actions and the terms of the deal fairly represent the value of OneStream for all shareholders. Specifically, the firm is looking into whether board members may have breached their fiduciary duties by approving a transaction that could potentially undervalue the company or provide disproportionate benefits to certain insiders, officers, or affiliated parties.

There is particular interest in whether all shareholders were treated equitably in the decision-making process and whether any side agreements or compensation arrangements were structured in a way that favors insiders over public stockholders. The investigation is ongoing, and the law firm is encouraging qualified shareholders to come forward with information.

Call for Shareholders to Participate

OneStream shareholders who believe the proposed take-private transaction may not fully reflect the company’s intrinsic value are being urged to consider participating in the investigation. Those interested can visit the Johnson Fistel investigation page for more details and to submit information.

In addition, shareholders with questions about the investigation can contact lead analyst James Baker by email at [email protected] or by phone at (619) 814-4471. If contacting via email, respondents are encouraged to include a telephone number for follow-up.

About Johnson Fistel, PLLP

Johnson Fistel, PLLP is a nationally recognized shareholder rights and securities litigation law firm with multiple offices across the United States, including locations in California, New York, Georgia, Idaho, and Colorado. The firm represents both individual and institutional investors in shareholder derivative lawsuits, securities class actions, and other investment-related legal matters.

The firm has a longstanding track record of pursuing complex litigation on behalf of shareholders, and in 2024 was ranked among the top ten plaintiff law firms in the United States by ISS Securities Class Action Services, based on its record of recoveries for clients. In cases where the firm has served as lead or co-lead counsel, it has helped recover tens of millions of dollars in investor losses.

Attorney advertising disclosure: This announcement is considered attorney advertising under applicable legal ethics rules. Past results are not a guarantee of future outcomes, and services may be performed by attorneys licensed in multiple jurisdictions.

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