UiPath Inc. Class Action Lawsuit - PATH

Company
UiPath Inc. (NYSE: PATH)
Lead Plaintiff Deadline
November 6, 2023 (Expired)
Class Period
April 21, 2021 - March 30, 2022

Expired

Lead Plaintiff Deadline

Nov 6, 2023

Join the UiPath Inc. Class Action Lawsuit

Required Field

Required Field

Required Field

  • $1 - $1,000
  • $1001 - $10,000
  • $10,001 - $25,000
  • $25,001 - $50,000
  • $50,001 - $100,000
  • $100,001 - $250,000
  • $250,001 - $500,000
  • $500,000+

There is no cost or obligation for you to submit.

The submission of this form does not create an attorney-client relationship.

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1.I have reviewed a complaint filed in the action.

2.I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3.I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4.My transaction(s) in which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5.Within the last 3 years,

6.I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against UiPath Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Allegations

The filed complaint alleges that UiPath Inc 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.

Eligibility

In order to be eligible to join the PATH class action lawsuit, you must have incurred a loss on shares of UiPath purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in UiPath during the relevant time frame or pursuant to the relevant offering(s), you have until November 6, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

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