Smartsheet shareholders have until October 5 to act in securities fraud lawsuit
News provided bySmartsheet Inc · 1 min read
NEW YORK, Sept. 5, 2026 /CourierPR/ -- Smartsheet Inc. shareholders have an important deadline to consider as a class action lawsuit over alleged securities fraud moves forward. Rosen Law Firm, a global investor rights law firm, is reminding shareholders who purchased common stock of Smartsheet Inc. (NYSE: SMAR) between June 1, 2024, and September 23, 2024, of the October 5, 2026, deadline to serve as lead plaintiff.
According to the lawsuit, Smartsheet engaged in fraudulent practices by repurchasing its shares at market prices below an unsolicited offer from a consortium of investors while keeping this information from the public. The consortium offered to purchase Smartsheet's outstanding shares for $56.25 per share in January 2024. By April 2024, the board of directors had approved a share repurchase program, allowing the company to buy back up to $150 million of its stock. In July 2024, the consortium increased its offer to $56.50 per share, a price significantly higher than the market value.
During the class period, the average stock price of Smartsheet was $46.45 per share. On September 24, 2024, Smartsheet disclosed the transaction with the consortium, which closed on January 22, 2025, at a price of $56.50 per share.
Rosen Law Firm is urging investors to take action. If you purchased Smartsheet common stock during the class period, you may be entitled to compensation without paying any out-of-pocket fees or costs through a contingency fee arrangement. , toll-free at 866-767-3653, or via email at [the provided email address].
A lead plaintiff is needed to direct the litigation. If you wish to serve as lead plaintiff, you must move the court by October 5, 2026. Rosen Law Firm, with a history of significant securities class action settlements, is encouraging investors to select a firm with a proven track record. The firm has secured over $438 million for investors in 2019 alone and was ranked No. 1 by ISS Securities Class Action Services for the number of settlements in 2017.