The Unity Software class action lawsuit seeks to represent purchasers or acquirers of Unity Software Inc. (NYSE: U) securities between March 5, 2021 and May 10, 2022, inclusive (the “Class Period”). The Unity Software class action lawsuit – captioned Das v. Unity Software, Inc., No. 22-cv-03962 (N.D. Cal.) – charges Unity Software and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Unity stock and wish to serve as lead plaintiff of the Unity class action lawsuit, please provide your information below. You can also contact Unity Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Unity Software class action lawsuit must be filed with the court no later than September 6, 2022.
Allegations in the Unity Software Class Action Lawsuit
Unity Software provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. One of the tools on Unity Software’s product platform is the Audience Pinpointer, a user acquisition service which uses real-time user valuation at the time of an ad request.
The Unity Software class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) deficiencies in Unity Software’s product platform reduced the accuracy of Unity Software’s machine learning technology; (ii) this was likely to have a material negative impact on Unity Software’s revenues; (iii) accordingly, Unity Software had overstated its commercial and/or financial prospects for 2022; and (iv) as a result, Unity Software was likely to have to reduce its fiscal 2022 guidance.
On May 10, 2022, Unity Software announced its financial results for the first quarter of 2022. Unity Software also reduced its fiscal 2022 guidance, citing “challenges with monetization products.” Specifically, Unity Software stated that “a fault in [Unity Software’s] platform . . . resulted in reduced accuracy for [its] Audience Pinpointer tool, a revenue expensive issue given that [the] Pinpointer tool experienced significant growth post [identifier for advertisers] changes.” On this news, Unity Software’s stock price fell by approximately 37%, damaging investors who suffered losses in Unity stock. If you suffered losses in Unity stock, contact Unity Stock Loss Lawyer Timothy L. Miles about a Unity Softwars class action lawsuit.
The Lead Plaintiff Process
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Unity Stock to seek appointment as lead plaintiff in the Unity Software class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Unity stock, and have further questions, contact Unity Stock Loss Lawyer Timothy L. Miles today.
Contact a Unity Stock Loss Lawyer if You Suffered Losses in Unity Stock
If you suffered losses in Unity stock, contact Unity Stock Loss Lawyer Timothy L. Miles today about a Unity Software class action lawsuit, and see what a Unity Stock Loss Lawyer can do for you.
Timothy L. Miles, Esq.
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.
Timothy L. Miles
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