Smartsheet, the company behind Smartsheet stock, faces legal action
Published on 10/01/2026 at 13:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Smartsheet, the company behind Smartsheet stock, faces legal action after GlobeNewswire reported on September 28, 2026, that a class action had been filed against the company and certain officers. The allegations concern statements and disclosures during a class period running from June 1, 2024, through September 23, 2024.
Class action sets the current issue
The complaint alleges that Smartsheet had received acquisition offers while repurchasing shares and making statements that did not disclose the offers. GlobeNewswire states that the complaint attributes approximately 1,128,000 repurchased shares to approximately USD 50.00 million in transactions. Those figures are allegations in the lawsuit, not findings by a court.
PR Newswire reported on September 24, 2026, that investors have until October 5, 2026, to ask the court to appoint a lead plaintiff. The deadline gives the legal process a concrete near-term date, even though the underlying events relate to 2024.
USD 56.50 deal changed the listing
The public-market history is central to the case. According to PR Newswire, the acquisition closed on January 22, 2025, with the consortium paying USD 56.50 in cash per share. Ludbee records the transaction value at USD 8.4 billion and describes Smartsheet as privately held after the deal.
Private ownership sets the frame
Smartsheet's current operating identity is separate from its former public-market status. Its investor-relations site describes a cloud work-management platform built around connected systems, project management, portfolio visibility and AI features such as Smart Assist and Smart Columns.
Smartsheet at a glance
- Company: Smartsheet Inc.
- Ticker: SMAR
- Sector / Industry: Technology / Software - Application
- Listing status: Private company
