TNDM - Lifshitz Law PLLC Announces Investigations of UiPath Inc. (NYSE: PATH) Tandem Diabetes Care Inc. (NASDAQ: TNDM) Leslie's Inc. (NASDAQ: LESL) and PacWest Bancorp (NASDAQ: PACW) | Benzinga

NEW YORK, Sept. 23, 2023 (GLOBE NEWSWIRE) --

UiPath, Inc. (NYSE:PATH)

Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company 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 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 the Company, 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.

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