#USA #Class Action #Bellevue #Berger Montague #Smartsheet Inc

Class Action Lawsuit Announced Against Smartsheet Inc.

On August 11, 2026, the prominent national plaintiffs' law firm, Berger Montague PC, made a significant announcement regarding Smartsheet Inc. (NYSE: SMAR). A class action lawsuit has been filed against the software company on behalf of investors who sold their common stock between June 1, 2024, and September 23, 2024. This legal action raises serious questions about the company's stock repurchase practices during a critical merger negotiation period.

Background on Smartsheet Inc.

Smartsheet, headquartered in Bellevue, Washington, is a well-known provider of cloud-based work management solutions. The company specializes in offering Software-as-a-Service (SaaS) that helps teams organize and manage their tasks more efficiently. In January 2025, it was reported that Smartsheet was acquired by a consortium consisting of Blackstone, Inc. and Vista Equity Partners Management, LLC. However, the circumstances surrounding this acquisition have now led to the current lawsuit.

In January 2024, Smartsheet received an unsolicited offer from the aforementioned consortium to purchase its shares at a value of $56.25 each. Following this initial offer, the consortium raised their bid to $56.50 per share by July 2024. Notably, during this negotiation phase, Smartsheet's Board of Directors enacted a share repurchase plan, allowing the company to buy back up to $150 million worth of its outstanding stock. This action became questionable as it unfolded against the backdrop of negotiations with the consortium.

Allegations in the Lawsuit

According to the allegations outlined in the lawsuit, Smartsheet is accused of failing to disclose the details of the acquisition offers while continuing to repurchase its own stock at significantly lower market prices than those proposed by the consortium. The company had a critical obligation to inform its investors about the acquisition discussions, especially when repurchasing shares.

During the class period, the average stock price for Smartsheet was reported at $46.45 per share. Soon after the company disclosed its acquisition agreement on September 24, 2024, which involved the consortium purchasing Smartsheet at $56.50 per share, investors began to express their concerns. Many believe they were misled during the critical phase of share buying.

Key Details for Investors

Investors who sold their Smartsheet shares during the defined class period may seek to be appointed as lead plaintiffs until October 5, 2026. The implications of this lawsuit could be far-reaching, not only for Smartsheet but also for investor rights in similar future scenarios.

If you are a Smartsheet investor and wish to learn more about your rights or the lawsuit, your first step should be to contact Berger Montague. Andrew Abramowitz and Caitlin Adorni can be reached for further assistance, providing potential pathways for investors seeking recourse.

About Berger Montague

Berger Montague has established itself as one of the leading law firms in the United States, dedicated to complex civil litigation and class actions. With a strong history of winning significant judgments for its clients, the firm has recovered billions on behalf of various classes over its 55-year history. Berger Montague is headquartered in Philadelphia and includes offices in several major U.S. cities, demonstrating a commitment to upholding the rights of investors and consumers.

For further information regarding this lawsuit or your rights as an investor, contact Berger Montague at the numbers provided. The ongoing developments in this case will be crucial for understanding the integrity of investment practices within tech companies like Smartsheet.