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UiPath Inc.

(NYSE: PATH)

Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of UiPath Inc. ("UiPath" or the "Company") on behalf of stockholders.  A class action complaint has been filed against UiPath.  The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) UiPath had enacted a widespread discounting program prior to its IPO, which had the effect of temporarily boosting UiPath's revenue and annualized recurring revenue ("ARR") metrics, cannibalizing its future sales, eroding UiPath's margins, and increasing the risk of client churn; (ii) UiPath's actual total addressable market was not as large as portrayed by defendants, because many companies included in UiPath's market survey did not need the type of high-cost, high-functionality automation products offered by UiPath; (iii) UiPath was losing customers to Microsoft, ServiceNow, SAP, Salesforce, IBM, and other established enterprise software vendors that were building automation into their platforms; (iv) UiPath was losing customers due to the increased availability of low-code automation software offered by vendors, such as Microsoft's Power Automate software, which were capable of addressing the majority of customer use cases at a fraction of the price of UiPath's products and services; and (v) UiPath was suffering from a loss of channel sales due to strained relationships with UiPath's partners as a result of increased competition between UiPath and these partners.  On March 30, 2022, UiPath announced financial results for the quarter and year ended January 31, 2022.  On this news, the price of UiPath common stock declined more than 25%.

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Date of signing: 04/25/2024


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