UiPath Inc.(NYSE: PATH)
NEW YORK, NY – September 14, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired UiPath Inc. (“UiPath” or the “Company”) (NYSE: PATH) common stock between April 21, 2021 and March 20, 2022, inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than November 6, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
On September 7, 2021, UiPath released its second quarter 2022 financial results, revealing a slowdown in the Company’s revenues and reported annualized renewal run-rate (“ARR”). The Company also revealed that its financial results provided to investors in connection with the Company’s Initial Public Offering had been boosted by previously undisclosed discounting, and that UiPath was shifting away from discounted multi-year contracts and moving to a “ramping” contact model.
On this news, UiPath’s stock price fell $8.06, or 12.9%, to close at $54.40 per share on September 9, 2021, thereby injuring investors.
Then, on March 30, 2022, UiPath released disappointing revenue and ARR guidance for its fiscal year 2023, stating that the downward growth trajectory was expected to continue. On this news, UiPath’s stock price fell $7.45, or 25.7%, to close at $21.59 per share on March 31, 2022.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
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Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 09/27/2023