Unity Software, Major Shareholders Shed Securities Class Action

Unity Software Inc., and two of its largest shareholders won dismissal, for now, of a securities class action alleging they made misstatements and omissions to investors about its “audience pinpointer” tool.

Unity offers graphic tools to create, run, and monetize real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. Audience pinpointer is intended to help advertisers work around user data protections built into the latest iPhone models.

The lead plaintiffs Oklahoma Firefighters Pension and Retirement System and Indiana Public Retirement System alleged that Unity, Silver Lake Group LLC, and Sequoia ...