LOS ANGELES, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Investors can contact the law firm at no cost to learn more about recovering their losses
The Portnoy Law Firm advises UiPath, Inc. (NYSE: PATH) investors that a lawsuit filed on behalf of investors that purchased UiPath securities between April 21, 2021 and March 30, 2022, inclusive (the “Class Period”)
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The lawsuit alleges that the defendants engaged in deceptive practices by making false or misleading statements and failing to disclose several key facts, including:
- UiPath's implementation of a widespread discounting program before its initial public offering (IPO), temporarily inflating its revenue and annualized recurring revenue (ARR) figures. This strategy, however, had the adverse effects of undermining future sales, diminishing UiPath's profit margins, and elevating the risk of customer attrition.
- The actual total addressable market for UiPath's products was not as extensive as the defendants had portrayed. This was because many companies included in UiPath's market analysis did not require the high-cost, high-functionality automation solutions that UiPath offered.
- UiPath was losing customers to well-established enterprise software vendors like Microsoft, ServiceNow, SAP, Salesforce, and IBM, as these companies were integrating automation into their platforms, competing with UiPath.
- UiPath was also losing customers due to the increased availability of lower-cost, low-code automation software provided by vendors like Microsoft's Power Automate, which could address most customer use cases at a significantly lower price compared to UiPath's offerings.
- UiPath was experiencing a decline in channel sales due to strained relationships with its partners, caused by intensified competition between UiPath and these partner companies.
The lawsuit contends that when these undisclosed details became public, investors suffered financial losses.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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