UiPath is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (a) UiPath had enacted a widespread discounting program prior to the IPO, which had the effect of temporarily boosting the Company’s revenue and annualized renewal run-rate ("ARR") metrics, cannibalizing its future sales, eroding the Company’s margins, and increasing the risk of client churn; (b) UiPath’s actual total addressable market was not as large as portrayed by defendants, because many companies included in the market survey did not need the type of high-cost, high-functionality automation products offered by the Company; (c) UiPath was losing customers to Microsoft, ServiceNow, SAP, Salesforce, IBM, and other established enterprise software vendors that were building automation into their platforms; (d) UiPath was losing customers due to the increased availability of lowcode automation software offered by vendors, such as Microsoft’s Power Automate software, which were capable of addressing the majority of customer use cases at a fraction of the price of UiPath’s products and services; (e) UiPath was suffering from a loss of channel sales due to strained relationships with the Company’s partners as a result of increased competition between UiPath and these partners; and (f) as a result of (a)-(e) above, defendants’ statements during the Class Period regarding the Company’s business, operations, and key financial metrics such as revenues and ARR were materially false and misleading.
If you incurred a loss on PATH common stock purchased between April 21, 2021 and March 30, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until November 6, 2023 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Enter the following information for this class action case- the deadline is approaching.