Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of UiPath Inc. who purchased shares between April 21, 2021 and March 30, 2023.
UiPath and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 30, 2022, the Company, a global provider of robotic process automation software, announced its financial results for the quarter and year ended January 31, 2022, disclosing disappointing earned revenues results as well as guidance for ARR (annualized renewal run-rate, an important indicator of the Company’s success) and revenue that were substantially below consensus analysts’ expectations, indicating that the declining growth trends adversely impacting the Company were expected to continue.
On this news, shares of UiPath fell $7.45, or more than 25%, to close at $21.59 per share on March 31, 2022.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until November 6, 2023 to request that the court appoint them lead plaintiff.