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U.US
id: 280

On August 15, 2022, Unity Software reported that rejected an Unsolicited Proposal from AppLovin.

Among other things, the Company announced that "its Board of Directors has completed a thorough financial and strategic evaluation of the unsolicited proposal from AppLovin (APP), with the assistance of outside financial and legal advisors, and has unanimously determined that it is not in the best interests of Unity shareholders and would not reasonably be expected to result in a "Superior Proposal" as defined in Unity’s merger agreement with ironSource (IS). The Unity Board reaffirms its recommendation to Unity’s shareholders to vote in favor of the previously announced ironSource transaction and recommends against the unsolicited AppLovin proposal."

On this news, the Company's shares declined more than 7% and lost over $1.2 billion of its capitalization.

Given that investors are currently incurring significant losses and the company has recently raised complaints about the correctness of information disclosure, there is reason to suspect that the leaders of the Company are not acting in the best interests of their shareholders.


Alleged Offence
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
15 August 2022
Collecting participants…

Unity Software Inc

Unity Software Inc. operates a platform that provides real-time 3D content and experiences. Its platform provides artificial intelligence solutions that support creators in building, running, and g...

    Ticker
    U.US
    ISIN
    US91332U1016
    CIK
    1810806
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    30 3rd Street, San Francisco, CA, United States, 94103-3104