U); The deadline for the lead applicant is September 6, 2022

PHILADELPHIA CREAM, August 4, 2022 /PRNewswire/ — Shepherd Montague is investigating allegations of securities fraud on behalf of investors who purchased Unity Software Inc. (“Unity” or the “Company”) (NYSE: U) securities between March 5, 2021 and May 10, 2022 (the “Class Period”).

If you purchased Unity securities during the Class Period, would like to discuss At Berger Montague investigation, or if you have any questions regarding your rights or interests, please contact the lawyers Andre Abramowitz at [email protected] or (215) 875-3015, or Michael Dell‘Angelo to [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/unity-software-inc/

Whistleblowers: Anyone with non-public information about Unity is encouraged to help confidentially. At Berger Montague survey or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

On May 10, 2022, after the market closed, Unity announced its first quarter 2022 financial results. The Company reduced its guidance for fiscal 2022 due to difficulties with monetization products. More precisely, “a defect of [the Company’s] Platform . . . resulted in reduced accuracy for [its] Audience Pinpointer tool, a revenue-intensive problem given that [the] The Pinpointer tool has seen significant growth after the IDFA changes.”

At this news, Unity stock fell $17.83 per share – 37% – to close at $30.30 per share on May 11, 2022.

The Complaint alleges that throughout the Class Period, the Defendants failed to disclose to investors that: (1) deficiencies in Unity’s product platform reduced the accuracy of the machine learning technology of the society ; (2) the foregoing was likely to have a material adverse impact on the Company’s revenues; and (3) as a result, Unity had overestimated its business and financial outlook for 2022.

Shepherd Montaguewith offices at philadelphia cream, Minneapolis, washington d.c.and San Diegohas been a pioneer in securities class actions since its founding in 1970. Shepherd Montague has represented individual and institutional investors for over five decades and acts as lead counsel before courts across United States.

contacts
Andre Abramowitzsenior counsel
Shepherd Montague
(215) 875-3015
[email protected]

Michael Dell‘Angelo, executive shareholder
Shepherd Montague
(215) 875-3080
[email protected]

THE SOURCE Shepherd Montague

Karen J. Nelson