| COMPANY |
UiPath, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
24-cv-04702 |
| JUDGE |
The Hon. John Peter Cronan |
| CLASS PERIOD |
December 1, 2023 through May 29, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a securities fraud class action lawsuit on behalf of those who purchased or acquired UiPath, Inc. (“UiPath”) (NASDAQ: PATH) securities between December 1, 2023 and May 29, 2024, inclusive (the “Class Period”).
On May 29, 2024, UiPath issued a press release announcing the resignation of Robert Enslin as the company's CEO, effective June 1, 2024, and the reappointment of Daniel Dines as CEO. On that same day, UiPath issued a separate press release announcing disappointing first quarter 2025 financial results and a significant cut in its revenue guidance for fiscal year 2025. Specifically, UiPath lowered its fiscal year 2025 revenue guidance by approximately 10%, or $150 million, from a range of $1.555 billion to $1.560 billion, to a range of $1.405 billion to $1.410 billion. Discussing UiPath's results and guidance on a conference call that same day, UiPath's officers acknowledged that the company's failed turnaround strategy was a factor, stating that "the investments we have made to reaccelerate growth have fallen short of our expectations, made us less agile in responding to customer needs and created short-term pressure on operating margins, all of which we are committed to rectifying."
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) UiPath overstated that it was successful in executing valuable, multi-year contracts with customers; (2) its investments in its sales team and customer support function for the purpose of contributing to success were overblown; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On July 23, 2025, the Court entered an Order granting Defendants’ Motion to Dismiss the Amended Complaint, and allowed Plaintiffs until September 12, 2025 to file a Second Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.