NEW YORK, June 21, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of UiPath, Inc. (NYSE: PATH)?
- Did you purchase your shares between December 1, 2023 and May 29, 2024, inclusive?
- Did you lose money in your investment in UiPath, Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired securities of UiPath, Inc. (“UiPath” or the “Company”) (NYSE: PATH) between December 1, 2023 and May 29, 2024, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its senior officers (the “Complaint”).
If you purchased or acquired UiPath securities, and/or would like to discuss your legal rights and options please visit UiPath, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, defendants made false and/or misleading statements and/or failed to disclose that: (i) UiPath’s turnaround strategy had failed because fruitless investments and inconsistent execution plagued UiPath’s overhauled go-to-market strategy; (ii) UiPath’s AI-powered Business Automation Platform suffered from UiPath’s inability to adequately scale its AI-powered tools and caused “confusion” among customers; and (iii) as a result, UiPath experienced significant difficulties closing and/or expanding large multiyear deals.
On May 29, 2024, UiPath revealed disappointing first quarter 2025 financial results and a significant cut in its revenue guidance for fiscal year 2025. The Company also announced the resignation of defendant Robert Enslin as CEO effective June 1, 2024.
On this news, UiPath’s shares fell by $6.23 per share, or more than 34%, from $18.30 per share on May 29, 2024, to $12.07 per share on May 30, 2024.
If you wish to serve as lead plaintiff, you must move the Court no later than August 19, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired UiPath securities, and/or would like to discuss your legal rights and options please visit UiPath, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
