Company: PATH
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001734722-25-000043
Chunk: 114

Company: UiPath, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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 motion to dismiss the third amended complaint in the underlying 2023 Securities Action.2024 Securities ActionOn June 20, 2024, a putative class action lawsuit was commenced in the United States District Court for the Southern District of New York against UiPath, CEO Daniel Dines, former CEO Robert Enslin, and CFO Ashim Gupta (the "2024 Securities Action"), asserting claims under Sections 10(b) and 20(a) of the Exchange Act on behalf of a putative class of persons who purchased or acquired UiPath common stock, and purchasers of UiPath call options and sellers of put options, between December 1, 2023 and May 29, 2024. Plaintiffs alleged that the defendants made material misstatements and omissions, including regarding UiPath's AI-powered Business Automation Platform and UiPath's strategy for, the success of, and customer demand for the platform, and sought unspecified monetary damages, costs and attorneys' fees, and other unspecified relief. On January 21, 2025, defendants moved to dismiss the amended complaint and on July 23, 2025, the Court granted the motion and dismissed the amended complaint in its entirety but allowed plaintiffs until September 12, 2025 to file a second amended complaint.The two purported shareholder derivative lawsuits related to the 2024 Securities Action, filed in the United States District Court for the Southern District of New York on July 8, 2024 and April 27, 2025, respectively, remain stayed pending further resolution of the 2024 Securities Action.We have not recorded any accrual related to the aforementioned litigation matters as of July 31, 2025, as we believe a loss in these matters is neither probable nor estimable at this time.WarrantyWe warrant to customers that our platform will operate substantially in accordance with its specifications. Historically, no significant costs have been incurred related to product warranties. Based on such historical experience, the probability of incurring such costs in the future is deemed remote. As such, no accruals for product warranty costs have been made.Other MattersOur indirect tax positions are subject to audit in multiple jurisdictions globally.Notably, our Romanian subsidiary was subjected to audits by the Agenția Națională de Administrare Fiscală ("ANAF") for value-added tax and corporate income tax for the periods from January 2020 through January 2022 and January 2018 through January 2022, respectively, which were completed during the first quarter of fiscal year