Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of sellers of Smartsheet Inc. (NYSE: SMAR) common stock between June 1, 2024 and September 23, 2024, both dates inclusive (the “Class Period”). Smartsheet is a software-as-a-service company.

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that Smartsheet Inc. (NYSE: SMAR) Misled Investors Regarding its Business Operations.

According to the lawsuit, on January 24, 2024, Smartsheet received an unsolicited non-public offer from a consortium of investors (the “Consortium”) to purchase its outstanding shares for $56.25 per share. In April 2024, Smartsheet’s Board of Directors approved a share repurchase program under which Smartsheet could repurchase up to $150 million of its outstanding stock. On July 8, 2024, the Consortium raised its offer to $56.50 per share, and reiterated that offer on August 21, 2024. According to the lawsuit, while these offers were on the table and unknown to the investing public, Smartsheet was repurchasing its common stock at market prices significantly below the prices offered by the Consortium. Smartsheet had an obligation to disclose that it had received a formal acquisition offer from the Consortium or abstain from purchasing Smartsheet stock from unsuspecting investors.

During the Class Period, Smartsheet’s average stock price was $46.45 per share. On Tuesday, September 24, 2024, during pre-market hours, Smartsheet disclosed the transaction with the Consortium. The merger eventually closed on January 22, 2025, with the Consortium acquiring Smartsheet for $56.50 per share.

What Now: You may be eligible to participate in the class action against Smartsheet Inc. Former shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 5, 2026. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $2 billion for shareholders.

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