Unite with Fellow Investors
Choose the Best Attorney
Follow Case Progress
id: 280, Created by Stan Vick, Scout
Unity Software Inc
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
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.
Breach of Fiduciary duty,
Shock Event Date
15 August 2022