RADNOR, Pa., Sept. 11, 2022 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Latch, Inc. f/k/a TS Innovation Acquisition Corp. (“Latch”) (NASDAQ: LTCH). The action charges Latch with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Latch’s materially misleading statements and omissions to the public, Latch investors have suffered significant losses.
CLICK HERE TO SUBMIT YOUR LATCH LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/latch-inc?utm_source=PR&utm_medium=link&utm_campaign=latch&mktm=r
LEAD PLAINTIFF DEADLINE: OCTOBER 31, 2022
CLASS PERIOD: MAY 13, 2021 THROUGH AUGUST 25, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. at (484) 270-1453 or via email at [email protected]
Kessler Topaz is one of the world’s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
LATCH’S ALLEGED MISCONDUCT
On August 25, 2022, Latch filed a Form 8-K with the SEC informing investors that the company’s Audit Committee and management had determined that Latch’s consolidated financial statements for 2021 and the first quarter of 2022 would need to be restated. Latch also disclosed to investors that certain revenue recognition errors occurred as a result of unreported sales arrangements due to sales activity that was inconsistent with the company’s internal controls and procedures.
Following this news, Latch’s stock fell $0.13, or 12.2%, to close at $0.95 per share on August 26, 2022.
WHAT CAN I DO?
Latch investors may, no later than October 31, 2022, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Latch investors who have suffered significant losses to contact the firm directly to acquire more information.
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
SOURCE Kessler Topaz Meltzer & Check, LLP