NEW
YORK, Oct. 28, 2022 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of Latch,
Inc. f/k/a TS Innovation Acquisitions Corp. (NASDAQ: LTCH).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/latch-inc-class-action-submission-form/?id=33074&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Latch between May 13, 2021
and August 25, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 31, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Latch, Inc. f/k/a TS Innovation
Acquisitions Corp. issued materially false and/or misleading
statements and/or failed to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original
content:https://www.prnewswire.com/news-releases/ltch-shareholder-alert-jakubowitz-law-reminds-latch-shareholders-of-a-lead-plaintiff-deadline-of-october-31-2022-301662026.html
SOURCE Jakubowitz Law