RADNOR, Pa., July 14, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a class action lawsuit has been filed against UiPath, Inc. (“UiPath”) (NYSE: PATH) in the U.S. District Court for the Southern District of New York. The lawsuit alleges UiPath violations of the federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. As a result of UiPath’s materially misleading statements and omissions to the public, UiPath’s investors have suffered significant losses. The lead plaintiff deadline is August 19, 2024.
If you have suffered UiPath losses, You can CLICK HERE or go to: https://www.ktmc.com/new-cases/uipath-inc?utm_source=PR&utm_medium=link&utm_campaign=path&mktm=r
You can also contact a lawyer Jonathan Naji, Esq. from Kessler Topaz by phone at (484) 270-1453 or by email at [email protected].
ALLEGED MISCONDUCT OF THE DEFENDANT
On May 29, 2024, UiPath issued a press release announcing the resignation of Robert Enslin as CEO of the company, effective June 1, 2024, and the reappointment of Daniel Dines as CEO. On the same day, UiPath issued a separate press release announcing disappointing financial results for the first quarter of 2025 and a significant cut to its fiscal year 2025 revenue guidance. Specifically, UiPath lowered its fiscal year 2025 revenue guidance by approximately 10%, or $150 million, from a range of $1.555 billion to $1.560 billion to a range of $1.405 billion to $1.410 billion. On a conference call the same day, UiPath executives acknowledged that the company’s failed turnaround strategy was a factor. They stated: “The investments we made to accelerate growth have fallen short of our expectations. They have impacted our ability to respond to customer needs and put short-term pressure on operating margins. We are committed to addressing all of this.”
Following this news, UiPath’s stock price fell $6.23 per share, or over 34%, to close at $12.07 per share on May 30, 2024.
WHAT CAN I DO?
UiPath investors can by 19 August 2024 at the latest, seek to be appointed as lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or choose to do nothing and remain absent as a class member. Kessler Topaz Meltzer & Check, LLP recommends that UiPath investors who have suffered significant losses contact the firm directly for more information. The class action lawsuit against UiPath, Steiner v. UiPath, Inc. et al.Case No. 24-cv-04702, is filed in the U.S. District Court for the Southern District of New York.
CLICK HERE TO REGISTER FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/uipath-inc?utm_source=PR&utm_medium=link&utm_campaign=path&mktm=r
WHO CAN BE THE MAIN CAMP?
A lead plaintiff is a representative party acting on behalf of all class members in directing the litigation. The lead plaintiff is typically the investor or small group of investors who have the largest financial interest and who are also reasonable and typical of the proposed investor class. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and those attorneys, if approved by the court, are lead or class counsel. Your ability to share in any compensation will not be affected by the decision whether or not to serve as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP litigates class action lawsuits in state and federal courts across the country and around the world. The firm has earned a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate wrongdoing. All of our work is driven by a common goal: to protect investors, consumers, employees and others from corporate and fiduciary fraud, abuse, misconduct and negligence. The claim in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Street
Radnor, PA 19087
[email protected]
May be considered Attorney Advertising in certain jurisdictions. Past results are not a guarantee of future results.
