Moore Kuehn, PLLC Encourages UiPath, Inc. Investors to Contact Law Firm
NEW YORK, Dec. 7, 2023 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
* UiPath, Inc. ("UiPath" or the "Company") (NYSE: PATH)
The investigation concerns a failure to disclose (1) that UiPath had enacted a widespread discounting program prior to the IPO, which had the effect of temporarily boosting the Company's revenue and ARR metrics, cannibalizing its future sales, eroding the Company's margins, and increasing the risk of client churn; (2) that UiPath's actual total addressable market was not as large as portrayed because many companies included in the market survey did not need the type of high-cost, high-functionality automation products offered by the Company; (3) that UiPath was losing customers to Microsoft, ServiceNow, SAP, Salesforce, IBM, and other established enterprise software vendors that were building automation into their platforms; (4) that UiPath was losing customers due to the increased availability of lowcode 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; (5) that UiPath was suffering from a loss of channel sales due to strained relationships with the Company's partners as a result of increased competition between UiPath and these partners; and (6) as a result, positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
On April 21, 2021, UiPath completed its IPO, raising more than $1.5 billion in gross proceeds. More than half of all shares sold in the IPO were sold by Company insiders, including CEO Daniel Dines, who sold more than $77 million worth of Company shares in the IPO.
If you own UiPath, Inc. (NYSE: PATH) please contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers.
Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Fletcher Moore, Esq.
fmoore@moorekuehn.com
(212) 709-8245
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