Background: The complaint alleges that UiPath, Inc. and its senior management made materially false and misleading statements regarding the success of the company’s 2022 turnaround strategy designed to accelerate growth.  The turnaround strategy included rebranding the company as an AI-powered Business Automation Platform and overhauling the company’s go-to-market sales strategy.  The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

BFA’s Role: BFA was appointed as Lead Counsel for the putative class on September 5, 2024.

Status: BFA will file an amended class action complaint in due course.