NEW YORK, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of AeroVironment, Inc. (NASDAQ: AVAV), Discover Financial Services (NYSE: DFS), and UiPath, Inc. (NYSE: PATH). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
AeroVironment, Inc. (NASDAQ: AVAV)
Class Period: June 29, 2021 - December 7, 2021
Lead Plaintiff Deadline: October 30, 2023
The complaint alleges that on December 7, 2021, AeroVironment announced second quarter results below market estimates and reduced revenue guidance for the remainder of the fiscal year from a range of $560 million to $580 million to a range of $440 million to $460 million. AeroVironment also lowered its EBITDA guidance from $105 million to $110 million to $59 million to $65 million.
On this news, AeroVironment’s stock declined the following day by nearly 30% to close at $57.98/share causing significant losses to shareholders at the time.
For more information on the AeroVironment class action go to: https://bespc.com/cases/AVAV
Discover Financial Services (NYSE: DFS)
Class Period: February 21, 2019 - August 14, 2023 (Common Stock Only)
Lead Plaintiff Deadline: October 30, 2023
According to the complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) DFS maintained deficient risk management and compliance procedures; (ii) as a result of the foregoing deficiencies, the Company had, inter alia, failed to comply with applicable student loan servicing standards, misclassified certain credit card accounts, overcharged customers, and failed to stem its ballooning credit card delinquency rate; (iii) the foregoing issues, when they became known, would subject DFS to significant financial exposure, regulatory scrutiny, and reputational harm; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
For more information on the DFS class action go to: https://bespc.com/cases/DFS
UiPath, Inc. (NYSE: PATH)
Class Period: April 21, 2021 - March 30, 2022 (Common Stock Only)
Lead Plaintiff Deadline: November 6, 2023
On September 7, 2021, UiPath released its second quarter 2022 financial results, revealing a slowdown in the Company’s revenues and reported annualized renewal run-rate (“ARR”). The Company also revealed that its financial results provided to investors in connection with the Company’s Initial Public Offering had been boosted by previously undisclosed discounting, and that UiPath was shifting away from discounted multi-year contract and moving to a “ramping” contact model. On this news, UiPath’s stock price fell $8.06, or 12.9%, to close at $54.40 per share on September 9, 2021, thereby injuring investors.
Then, on March 30, 2022, UiPath released disappointing revenue and ARR guidance for its fiscal year 2023, stating that the downward growth trajectory was expected to continue. On this news, UiPath’s stock price fell $7.45, or 25.7%, to close at $21.59 per share on March 31, 2022, thereby injuring investors further.
For more information on the UiPath class action go to: https://bespc.com/cases/PATH
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
