GlobeNewsWire
22 Aug 2026, 23:35 UTC · 2h ago
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Smartsheet Inc. is facing a securities class action lawsuit alleging it repurchased stock at market prices while withholding information about higher acquisition offers from a consortium of investors. — Allegations of securities fraud and non-disclosure of material information create legal liability and reputational risk, though the company has already been acquired.
-0.40The lawsuit claims Smartsheet failed to disclose acquisition offers of $56.25 and $56.50 per share while buying back stock at an average price of $46.45 during the class period. — This provides the factual basis for the damages claim, indicating a significant gap between the market price and the known offer price.
-0.20The lead plaintiff deadline for the Smartsheet securities class action is October 5, 2026. — This is a procedural legal deadline with no direct impact on the valuation of the assets.
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The company is mentioned in the context of a legal notice regarding a securities class action lawsuit.
The company is facing a securities class action lawsuit alleging it failed to disclose acquisition offers while repurchasing shares.
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