Pomerantz LLP announced that a securities class action has been filed against Smartsheet Inc. and certain officers and directors over allegations that the company repurchased stock while withholding acquisition offers from Blackstone Inc. and Vista Equity Partners Management, LLC. The complaint covers investors who purchased or acquired Smartsheet securities between June 1, 2024, and September 23, 2024. The lawsuit alleges Smartsheet did not disclose offers from the Blackstone-Vista consortium to acquire all outstanding shares, even as the company repurchased common stock at market prices below the proposed acquisition prices. The consortium first offered $56.25 per share on January 24, 2024, raised the offer to $56.50 on July 8, and reiterated that price on August 21. Smartsheet's board had authorized up to $150 million in repurchases in April 2024. Smartsheet shares averaged $46.45 during the proposed class period, Pomerantz said. The company disclosed the consortium transaction on September 24, 2024, before the market opened, and the merger closed on January 22, 2025, at $56.50 per share. Investors have until October 5, 2026, to seek appointment as lead plaintiff.