Unity Software, Inc. (U) is facing a class action lawsuit (Unity Software Class Action Lawsuit) alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) deficiencies in U’s product platform reduced the accuracy of the Company’s machine learning technology; (ii) the foregoing was likely to have a material negative impact on the Company’s revenues; (iii) accordingly, U had overstated the Company’s commercial and/or financial prospects for 2022; (iv) as a result, the Company was likely to have to reduce its fiscal 2022 guidance; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you incurred a loss on U stocks purchased between March 5, 2021 and May 10, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Northern District of California, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until September 6, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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