Unity Software’s $1 Billion Silver Lake, Sequoia Deal Draws Suit

A Unity Software Inc. investor sued members of its board in Delaware, claiming they’re keeping shareholders in the dark about ties between the banks advising the video game technology developer on a $4.4 billion acquisition and two major investment firms partly financing the transaction.

The lawsuit accuses the board of failing to disclose information about links between the banks, Goldman Sachs & Co. and Morgan Stanley, and the asset managers, Silver Lake and Sequoia Capital, allegedly Unity’s two largest stockholders.

Silver Lake and Sequoia are participating in a $1 billion private stock placement that will partly fund Unity’s purchase ...