NEW YORK, July 07, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Unity Software Inc. (“Unity” or the “Company”) (NYSE: U) in the United States District Court for the Northern District of California on behalf of investors who purchased Unity stock between March 5, 2021 and May 10, 2022, inclusive (the “Class Period”).
The Complaint allege that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) deficiencies in Unity’s product platform reduced the accuracy of the Company’s machine learning technology; (2) the foregoing was likely to have a material negative impact on the Company’s revenues; (3) accordingly, Unity had overstated the Company’s commercial and/or financial prospects for 2022; (4) as a result, the Company was likely to have to reduce its fiscal 2022 guidance; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages
Investors who purchased or otherwise acquired shares of Unity should contact the Firm prior to the September 6 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
