Recent Security Class Actions

According to the Complaint, UiPath, Inc. provides business automation software, specifically a set of RPA and AI capabilities that allow its customers to discover and develop opportunities for automation and automate tasks using a digital workforce that seamlessly collaborates with humans.

On September 27, 2022, after a period of stagnant growth and declining demand for its RPA products, UiPath announced a turnaround strategy. The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements concerning the success of UiPath's turnaround strategy.

On May 29, 2024, UiPath announced the sudden departure of its CEO. On the same day, UiPath announced disappointing 1Q 25 financial results and significantly cut its FY 25 revenue guidance by 10%, or $150 million. The Company attributed the poor results and guidance to several factors related to its failed turnaround strategy.

The Complaint alleges that as a direct and proximate result of Defendants’ wrongful conduct, Plaintiff and the other members of the Class suffered damages in connection with their respective purchases of the Company’s securities during the Class Period.