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Kessler Topaz Meltzer & Check, LLP Announces a Securities Fraud Class Action Lawsuit Filed Against UiPath, Inc. (NYSE: PATH)The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against UiPath, Inc. ("UiPath") (NYSE: PATH). The action charges UiPath with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of UiPath's materially misleading statements and omissions to the public, UiPath's investors have suffered significant losses. The lead plaintiff deadline is August 19, 2024. If you suffered UiPath losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/uipath-inc?utm_source=PR&utm_medium=link&utm_campaign=path&mktm=r You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' ALLEGED MISCONDUCT 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." Following this news, UiPath's stock price fell $6.23 per share, or over 34%, to close at $12.07 per share on May 30, 2024.
WHAT CAN I DO?
CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/uipath-inc?utm_source=PR&utm_medium=link&utm_campaign=path&mktm=r
WHO CAN BE A LEAD PLAINTIFF?
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
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