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UiPath, Inc. Class Action Lawsuit - PATH

27 days left to seek lead plaintiff status

Case Summary

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The UiPath class action lawsuit seeks to represent purchasers or acquirers of UiPath, Inc. (NYSE: PATH) securities between December 1, 2023 and the close of trading on May 29, 2024, inclusive (the “Class Period”).  Captioned Steiner v. UiPath, Inc., No. 24-cv-04702 (S.D.N.Y.), the UiPath class action lawsuit charges UiPath and certain of UiPath’s top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the UiPath class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.  Lead plaintiff motions for the UiPath class action lawsuit must be filed with the court no later than August 19, 2024.

CASE ALLEGATIONS: UiPath is a business automation software company.

The UiPath class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) UiPath’s turnaround strategy had failed because fruitless investments and inconsistent execution plagued UiPath’s overhauled go-to-market strategy; (ii) UiPath’s AI-powered Business Automation Platform suffered from UiPath’s inability to adequately scale its AI-powered tools and caused “confusion” among customers; and (iii) as a result, UiPath experienced significant difficulties closing and/or expanding large multiyear deals.

The UiPath class action lawsuit further alleges that on May 29, 2024, UiPath announced the resignation of defendant Robert Enslin as CEO effective June 1, 2024, and the reappointment of defendant Daniel Dines as CEO.  The complaint further alleges that UiPath also revealed disappointing first quarter 2025 financial results and a significant cut in its revenue guidance for fiscal year 2025.  On this news, the price of UiPath stock fell more than 34%, according to the UiPath class action lawsuit.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired UiPath securities during the Class Period to seek appointment as lead plaintiff in the UiPath class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the UiPath class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the UiPath class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the UiPath class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases.  Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors.  We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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