NEW YORK, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating whether the directors and/or officers of Unity Software Inc. (“Unity” or the “Company”) (: U) breached their fiduciary duties of loyalty, good faith and candor and whether the Company suffered substantial harm as a result.
According to a complaint filed by investors in the securities of the Company, Defendants 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.
If you are an investor in Unity securities and wish to discuss your rights or if you are aware of any facts relating to this investigation, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
