ROSEN, LEADING INVESTOR COUNSEL, Encourages Smartsheet Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - SMAR

Rosen Law Firm, a global investor rights law firm, reminds sellers of common stock of Smartsheet Inc. (NYSE: SMAR) between June 1, 2024 and September 23, 2024, both dates inclusive (the "Class Period"), of the important October 5, 2026 lead plaintiff deadline.

According to the lawsuit, on January 24, 2024, Smartsheet received an unsolicited non-public offer from a consortium of investors (the "Consortium") to purchase its outstanding shares 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, and reiterated that offer on August 21, 2024.

According to the lawsuit, 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, 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.