Smartsheet, Inc. Securities Class Action

Class Period

June 1, 2024, - September 23, 2024

Motion Deadline

October 5, 2026|58 days left

Please submit the form below if you believe you have incurred losses.

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Allegations

On January 24, 2024, Smartsheet received an unsolicited non-public offer from Blackstone Inc. and Vista Equity Partners Management, LLC (together, the “Consortium”) to purchase all the outstanding shares of Smartsheet 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. Subsequently, on August 21, 2024, the Consortium reiterated its offer to purchase all the outstanding shares of Smartsheet at $56.50 per share. The class action lawsuit alleges that 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 (i.e., between June 1, 2024 and September 23, 2024), Smartsheet’s average stock price was $46.45 per share. 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.

Lead Plaintiff

If you have qualifying losses, you may be eligible to serve as Lead Plaintiff. Acting as a representative for all class members seeking recovery in the lawsuit, the Lead Plaintiff plays an important role in the litigation, including selecting a law firm to serve as Lead Counsel and approving the final settlement. There is no cost whatsoever to seek or participate as a Lead Plaintiff. The Lead Plaintiff may also receive a monetary award for their participation in the suit.

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