Smartsheet Investor Lawsuit Filed - STL.News
Investors claim Smartsheet hid acquisition talks, filing a securities class action for shares sold before the September 2024 deal.Summary
A federal securities class action has been filed against Smartsheet Inc. by plaintiffs’ law firm Kirby McInerney LLP, alleging that the company failed to disclose material information about acquisition discussions with a consortium led by Blackstone and Vista Equity Partners before announcing its sale in September 2024. The complaint targets investors who sold Smartsheet common stock between June 1 and September 23, 2024, arguing that the market was misled by the company’s continued share repurchases during that period. Plaintiffs seek damages for losses incurred by those investors and set an October 5, 2026 deadline for lead plaintiff nominations. The case remains in its earliest stages, with no judicial findings yet; Smartsheet has not been found liable, and the allegations are unproven pending court proceedings.
(Source：Stl.news)