UiPath Avoids Some, Not All, Securities Fraud Claims Tied to IPO

UiPath Inc. and two of its officers didn’t commit securities fraud when they made statements about the company’s invoice calculations, business model, and risk factors during the run up to its initial public offering, a federal court said.

But the company that provides robotic process automation must face a class action claim that it lied during the class period from April 21, 2021 to Sept. 7, 2022 about its competition with Microsoft Corp., Judge Denise L. Cote said Monday for the US District Court for the Southern District of New York.

UiPath grew quickly from its founding in 2005 ...