Investors Eye Lead Plaintiff Role in Smartsheet Securities Lawsuit

The legal action, initiated by the Rosen Law Firm, claims Smartsheet engaged in deceptive practices during a period when the company received multiple bids from an investment consortium. According to the complaint, the firm received an unsolicited offer of $56.25 per share in January 2024, which was later increased to $56.50 by July. While these negotiations remained private, Smartsheet allegedly executed a $150 million share repurchase program at market prices averaging $46.45—significantly lower than the acquisition bids on the table.

Plaintiffs argue that Smartsheet had a legal obligation to either disclose the existence of the acquisition offers or suspend its own stock buybacks. The merger with the consortium ultimately closed in January 2025 at $56.50 per share. Investors interested in participating in the litigation or serving as a lead plaintiff can contact attorney Phillip Kim at the Rosen Law Firm. Legal experts note that no class has been certified yet, meaning investors currently remain unrepresented unless they choose to retain counsel or act independently.