| COMPANY |
Latch, Inc. f/k/a TS Innovation Acquisitions Corp. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
22-cv-07473 |
| JUDGE |
The Honorable John G. Koeltl |
| CLASS PERIOD |
May 13, 2021 and August 25, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
This class action lawsuit has been filed on behalf of those who purchased or acquired Latch, Inc. f/k/a TS Innovation Acquisition Corp. (“Latch”) (NASDAQ: LTCH) securities between May 13, 2021 and August 25, 2022, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) there were unreported sales arrangements related to hardware devices; (2) as a result, the company had improperly recognized revenue throughout fiscal 2021 and first quarter 2022; (3) there were material weaknesses in Latch’s internal control over financial reporting related to revenue recognition; (4) as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; and (5) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On January 17, 2025, the Court issued an Order granting Preliminary Approval of Settlement and scheduled a Settlement Hearing on May 28, 2025. This action is ongoing.
Please be advised that the deadline to file a claim is April 28, 2025. You may find additional information regarding the terms of the settlement and claim filing process at www.strategicclaims.net/latch, or by calling the claims administrator, Strategic Claims Services at 1-866-274-4004.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.