Rosen Law notifies Smartsheet investors of securities class action
Rosen Law Firm is notifying Smartsheet investors about a securities class action tied to allegations over an undisclosed acquisition offer and share repurchases.
Rosen Law Firm is notifying Smartsheet investors about a securities class action tied to allegations over an undisclosed acquisition offer and share repurchases.
Rosen Law Firm said investors who sold Smartsheet Inc. common stock between June 1, 2024 and Sept. 23, 2024, inclusive, are within the class period for a securities lawsuit already filed over the company’s handling of a reported acquisition process. The notice says the lead plaintiff deadline is Oct. 5, 2026.
The notice says no class has been certified yet, so investors are not represented unless they retain counsel or a class is later approved.
Case details
According to the notice, Smartsheet received an unsolicited non-public offer on Jan. 24, 2024, from a consortium of investors to buy outstanding shares for $56.25 per share. The notice says Smartsheet’s board approved a share repurchase program in April 2024 allowing buybacks of up to $150 million.
The consortium then raised its offer to $56.50 per share on July 8, 2024, and reiterated that price on Aug. 21, 2024, the notice says. Rosen alleges Smartsheet kept repurchasing stock at market prices below the offer prices while those offers were not public, and that the company should have disclosed the acquisition proposal or stopped buying shares from investors.
The notice says the average Smartsheet stock price during the class period was $46.45 per share. It also says Smartsheet disclosed the transaction in pre-market trading on Sept. 24, 2024, and that the merger closed on Jan. 22, 2025, with the consortium acquiring Smartsheet for $56.50 per share.
What the notice says
Rosen said purchasers during the class period may be entitled to compensation without out-of-pocket fees or costs through a contingency fee arrangement. The notice directs investors to a join link and provides a toll-free number, 866-767-3653, for Phillip Kim, Esq., along with an email address for information.
The notice also includes Rosen Law Firm marketing claims about its securities class action record and prior recoveries.
What happens next
Investors who believe they were affected must act before the Oct. 5, 2026 lead plaintiff deadline if they want to be considered for that role, according to the notice. The case remains pending, and the notice says no class has been certified.
Sources
Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
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