SAN DIEGO, June 23, 2024 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of UiPath, Inc. (NYSE: PATH) securities between December 1, 2023 and the close of trading on May 29, 2024, both dates inclusive (the “Class Period”), have until August 19, 2024 to seek appointment as lead plaintiff of the UiPath class action lawsuit. Captioned Steiner v. UiPath, Inc., No. 24-cv-04702 (S.D.N.Y.), the UiPath class action lawsuit charges UiPath and certain of UiPath’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the UiPath class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-uipath-inc-class-action-path.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the UiPath class action lawsuit must be filed with the court no later than August 19, 2024.
CASE ALLEGATIONS: UiPath is a business automation software company.
The UiPath class action lawsuit alleges that defendants throughout the Class Period 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.
The UiPath class action lawsuit further alleges that on May 29, 2024, UiPath announced the resignation of defendant Robert Enslin as CEO effective June 1, 2024, and the reappointment of defendant Daniel Dines as CEO. The complaint further alleges that UiPath also revealed disappointing first quarter 2025 financial results and a significant cut in its revenue guidance for fiscal year 2025. On this news, the price of UiPath stock fell more than 34%, according to the UiPath class action lawsuit.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired UiPath securities during the Class Period to seek appointment as lead plaintiff in the UiPath class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the UiPath class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the UiPath class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the UiPath class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm was ranked #1 on the ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller topped the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
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