Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 19, 2024 to file lead plaintiff applications in a securities class action lawsuit against UiPath, Inc. (the “Company”) (NYSE: PATH), if they purchased or otherwise acquired the Company’s securities between December 1, 2023 and May 29, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of UiPath and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-path/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 19, 2024.
About the Lawsuit
UiPath and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 29, 2024, despite previously touting the apparent success of the execution of its turnaround strategy, the Company disclosed disappointing 1Q25 financial results and significantly cut its FY 25 revenue guidance by 10%, or $150 million, to a range of $1.405 billion to $1.410 billion, due to several factors, including “contract execution challenges on large deals,” an inadequate “execution strategy to scale” the Company’s AI-powered growth products “to reach their full potential,” and that “investments we have made to reaccelerate growth have fallen short of our expectations, [and] made us less agile in responding to customer needs.”
On this news, the price of UiPath’s shares fell by $6.23 per share, or more than 34%, from $18.30 per share on May 29, 2024, to $12.07 per share on May 30, 2024.
The case is Zack Steiner v. UiPath, Inc., No. 1:24-cv-4702.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240620095957/en/
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
