NEW
YORK, Sept. 27, 2023 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of UiPath
Inc..
Shareholders who purchased shares of PATH during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/uipath-loss-submission-form/?id=49513&from=4
CLASS PERIOD: April 21,
2021 to March 30, 2022
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued 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.
DEADLINE: November 6, 2023
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/uipath-loss-submission-form/?id=49513&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of PATH during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is November 6, 2023. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm