Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Unity Software Inc. (U) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Unity Software Inc. (“Unity” or the “Company”) (NYSE: U) securities between March 5, 2021 and May 10, 2022, inclusive (the “Class Period”). Unity investors have until September 6, 2022 to file a lead plaintiff motion.

If you suffered a loss on your Unity investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/unity-software-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On May 10, 2022, after the market closed, Unity announced its first quarter 2022 financial results. The Company also reduced its fiscal 2022 guidance “due to challenges with monetization products.” Specifically, “a fault in [Unity’s] platform . . . resulted in reduced accuracy for [its] Audience Pinpointer tool, a revenue expensive issue given that [the] Pinpointer tool experienced significant growth post the IDFA changes.”

On this news, Unity’s stock fell $17.83, or 37%, to close at $30.30 per share on May 11, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors 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 its commercial and/or financial prospects for 2022; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Unity securities during the Class Period, you may move the Court no later than September 6, 2022 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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