NEW YORK, Oct. 02, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against UiPath, Inc. (NYSE: PATH), Schmitt Industries, Inc. (NADSAQ: SMIT), Polished.com, Inc. (NYSEAmerican: POL), and Sotera Health Company (NASDAQ: SHC). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
UiPath, Inc. (NYSE: PATH)
On September 6, 2022, UiPath reported second quarter earnings including a reduction in its forecast for the year. The Company blamed the disappointing news on foreign currency concerns and macroeconomic uncertainty.
Based on this news, UiPath’s stock price fell $2.27 per share, or 14%, to close at $13.84 per share on September 7, 2022.
For more information on the UiPath investigation go to: https://bespc.com/cases/PATH
Schmitt Industries, Inc. (NASDAQ: SMIT)
On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restating, estimating that “the errors were cumulatively material, resulting in an understatement of $330,203 in expenses for the first three quarters of the fiscal year.”
On this news, Schmitt stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, hurting investors.
For more information on the Schmitt investigation go to: https://bespc.com/cases/SMIT
Polished.com, Inc. (NYSEAmerican: POL)
In July 2020, Polished (then known as 1847 Goedeker Inc.) conducted its initial public offering (“IPO”), selling shares priced at $9.00 per share.
Then, on August 15, 2022, after market hours, Polished announced on Form 12b-25 filed with the SEC its inability to timely file its Form 10-Q for its second quarter of its fiscal year 2022 ended June 30, 2022 due to its The Board’s Audit Committee recently began “an independent investigation regarding certain allegations made by certain former employees related to the Company’s business operations.” Further, the Company announced that “
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