NEW ORLEANS, Sept. 15, 2023 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 6, 2023 to file lead plaintiff applications in a securities class action lawsuit against UiPath Inc. (NYSE: PATH), if they purchased the Company’s shares between April 21, 2021 and March 30, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of UiPath and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-path/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 6, 2023.
About the Lawsuit
UiPath and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 30, 2022, the Company, a global provider of robotic process automation software, announced its financial results for the quarter and year ended January 31, 2022, disclosing disappointing earned revenues results as well as guidance for ARR (annualized renewal run-rate, an important indicator of the Company’s success) and revenue that were substantially below consensus analysts’ expectations, indicating that the declining growth trends adversely impacting the Company were expected to continue.
On this news, shares of UiPath fell $7.45, or more than 25%, to close at $21.59 per share on March 31, 2022.
The case is Gera v. UiPath, Inc., et al., No. 23-cv-7908.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit http://ksfcounsel.com/.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC