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Unity Software Inc. Investigation


The law firm of Kirby McInerney LLP is investigating potential claims against Unity Software Inc. (“Unity” or the “Company”) (NYSE: U). The investigation concerns whether Unity has violated the federal securities laws and/or engaged in other unlawful business practices.
 
Unity is a video game software development company.
 
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, the price of Unity stock declined by $17.83 per share, or approximately 37%, from $48.13 per share to close at $30.30 per share on May 11, 2022.
 

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