UiPath, a software developer focused on automating repetitive workflows, and its top officers and directors were hit with a shareholder derivative lawsuit on Dec. 8 in Delaware District Court. The suit, brought by Farnan LLP and the Rosen Law Firm on behalf of Hugues Gervat, accuses the defendants of downplaying the threat of competition from new entrants in the automation sector including Microsoft, Salesforce and IBM. The suit further contends that UiPath’s IPO price in 2021 was artificially inflated due to the implementation of a discount program prior to the IPO as well as overstatements about the size of the market. Counsel have not yet appeared for the defendants. The case is 1:23-cv-01413, Gervat v. Dines et al.

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