Philadelphia, September 29, 2026 / PRNewswire / -- The national plaintiff law firm Berger Montague PC announced that it has filed a class action against Smartsheet Inc. ( NYSE : SMAR, referred to as “Smartsheet” or “the Company”) on behalf of investors who sold Smartsheet common stocks between June 1, 2024, and September 23, 2024 (the “class action period”).

Investor deadline:Investors who sold Smartsheet shares during the class action period may apply to be designated as the lead plaintiff representative of the class action by no later than October 5, 2026. Berger Montague indicates that investors are able to understand their rights.

Smartsheet is headquartered in Bellevue, Washington, and is a software as a service company that provides cloud-based work management platforms. On January 22, 2025, the company was acquired by a consortium consisting of Blackstone, Inc, Vista Equity Partners Management, and LLC.

On January 24, 2024, Smartsheet received unsolicited and non-public acquisition bids from Blackstone Inc and Vista Equity Partners Management. LLC proposed to acquire all of Smartsheet's outstanding shares at $56.25 per share. In April 2024, the board of directors of Smartsheet approved a share repurchase plan under which the company could repurchase up to $150 million worth of outstanding shares. On July 8, 2024, the consortium raised its bid to $56.50 per share. Subsequently, on August 21, 2024, the consortium reaffirmed its bid to acquire all of Smartsheet's outstanding shares at $56.50 per share.

According to the complaint, during the negotiations between Smartsheet and the consortium regarding the merger, the company repurchased its common shares at a market price significantly lower than the consortium's bid. The complaint alleges that Smartsheet was obligated to disclose that it had received a formal acquisition offer from the consortium, or to avoid repurchasing Smartsheet's shares from uninformed investors.

During the class action period, the average price of Smartsheet stock was $46.45 per share. On September 24, 2024, Smartsheet disclosed a transaction with a consortium, which ultimately resulted in the consortium acquiring Smartsheet at $56.50 per share.

Berger Montague indicates that if you are an investor such as Smartsheet and wish to learn more about this case, you may contact Berger Montague at Andrew Abramowitz via email [email protected], or Caitlin Adorni at email protected by phone (267) 764-4865.

About Berger Montague

Berger Montague indicates that this firm is one of the renowned law firms in the United States, specializing in complex civil litigation, class actions, and large-scale tort cases in federal and state courts across the country. The firm claims that in 2025 alone, the amount of judgments awarded exceeded $2.4 billion, placing it at the forefront in various fields such as complex litigation, antitrust, consumer protection, defective products, environmental law, labor law, securities, and whistleblower cases. Berger Montague indicates that over the past 55 years, the firm has played a leading role in numerous precedent-setting cases and has recovered more than $50 billion on behalf of its clients and the groups they represent. Headquartered in Philadelphia, the firm also has offices in Chicago, Malvern, Pennsylvania, Minneapolis, San Diego, San Francisco, Toronto, Canada, Washington D.C., and Wilmington, Delaware.

For more information or to discuss your rights, please contact:

Andrew Abramowitz

Caitlin Adorni