ATLANTA, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against UiPath, Inc. (“UiPath” or “the Company”) (NYSE: PATH). The lawsuit alleges UiPath made false or misleading statements and/or omitted material adverse information regarding the Company’s business, operations, and financial condition, including: (a) that UiPath = enacted a widespread discounting program prior to its IPO, which had the effect of temporarily boosting the Company’s revenue and ARR metrics, cannibalizing its future sales, eroding the Company’s margins, and increasing the risk of client churn; (b) that UiPath’s actual total addressable market was not as large as portrayed by defendants; (c) that UiPath was losing customers to Microsoft, ServiceNow, SAP, Salesforce, IBM, and other established enterprise software vendors that were building automation into their platforms; (d) that UiPath was losing customers due to the increased availability of low-code automation software offered by vendors; (e) that 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.
If you bought shares of UiPath between April 21, 2021 and March 30, 2022, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/uipath/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is November 6, 2023.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
