PHILADELPHIA, Aug. 16, 2024 (GLOBE NEWSWIRE) -- A securities fraud lawsuit has been filed against UiPath, Inc. (“UiPath” or the “Company”) (NYSE: PATH). The lawsuit is captioned Steiner v. UiPath, Inc., et al., No. 1:24-cv-04702 (S.D.N.Y.), and is filed on behalf of purchasers of UiPath securities between December 1, 2023 and May 29, 2024, inclusive (the “Class Period”).

CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.

Investors who purchased or acquired UiPath securities during the Class Period may, no later than August 19, 2024, seek to be appointed as a lead plaintiff representative of the class.

Headquartered in New York, UiPath provides business automation software, specifically a set of robotic process automation (“RPA”) and AI-powered automation tools that allow its customers to automate repetitive business tasks typically performed by humans.

The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements concerning UiPath’s turnaround strategy, including that the Company was “executing against that strategy, and we’re seeing [the] results in the deal quality and the customer quality,” “our strategic investments in innovations and our go-to-market ecosystem positions us well for continued momentum,” and “there’s no doubt there’s [been] better execution” since the implementation of the turnaround strategy.

For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE.

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contact:

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net  

Peter Hamner
Berger Montague
(215) 875-3048
phamner@bm.net