Cases & Investigations
Smartsheet Inc. Securities Litigation

Wolf Popper has filed a class action lawsuit seeking to represent sellers of Smartsheet Inc. common stock between June 1, 2024 and September 23, 2024, inclusive (the “Class Period”).  Captioned Galveston Firefighters’ Pension Fund v. Smartsheet Inc. et al, No. 1:26-cv-6679 (S.D.N.Y.), the Smartsheet class action lawsuit charges Smartsheet and certain of Smartsheet’s former executives with violations of the Securities Exchange Act of 1934.

If you sold Smartsheet common stock during the Class Period and wish to serve as lead plaintiff of the Smartsheet class action lawsuit, or have any questions concerning the Smartsheet class action lawsuit, please contact attorney Adam Savett of Wolf Popper by calling (212) 451-9655, or via e-mail at asavett@wolfpopper.com. Lead plaintiff motions for the Smartsheet class action lawsuit must be filed with the Court no later than October 5, 2026.

CASE ALLEGATIONS: Smartsheet is a software-as-a-service company that offers its cloud-based work management platform and other professional services.
 
The?Smartsheet class action lawsuit alleges that defendants throughout the Class Period failed to disclose material information, which artificially deflated the price of Smartsheet common stock.
 
On January 24, 2024, Smartsheet received an unsolicited non-public offer from Blackstone Inc. and Vista Equity Partners Management, LLC (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 Smartsheet 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 (June 1, 2024 and September 23, 2024), 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.
 
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who sold Smartsheet common stock during the Class Period to seek appointment as lead plaintiff in the Smartsheet class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Smartsheet class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Smartsheet class action lawsuit. An investor’s ability to share in any potential future recovery of the Smartsheet class action lawsuit is not dependent upon serving as lead plaintiff.
 
ABOUT WOLF POPPER: Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
 

• Phone: Adam Savett - (212) 451-9655
• Phone: Robert Finkel - (212) 451-9620
• Phone: Joshua W. Ruthizer - (212) 451-9668
• Email: Outreach@wolfpopper.com