LTCH, LTCHW CLASS ACTION FILED: Gardy & Notis, LLP Announces a Class Action Lawsuit for Latch, Inc. Investors

NEW YORK, NY, UNITED STATES, September 1, 2022 /EINPresswire.com/ — Gardy & Notis, LLP announces that a class action lawsuit was filed in federal court in New York on behalf of investors who bought Latch, Inc. securities, including common stock (NASDAQ: LTCH) and warrants (NASDAQ: LTCHW), at any time during a class period between May 13, 2021 and August 25, 2022. The case is filed as 1:22-cv-7473 (S.D.N.Y.).

Investors have until October 31, 2022 to apply to the court for appointment as lead plaintiff in the lawsuit.

Latch investor who would like to learn more should contact James Notis of Gardy & Notis by calling 914-351-2460 or by emailing jnotis@gardylaw.com. There is no cost or obligation.

The lawsuit alleges that Latch and three of its top executives defrauded investors in violation of the federal securities laws. On August 25, 2022, Latch announced that its Audit Committee determined that the consolidated financial statements Latch filed with the SEC and published to investors for the year ended December 31, 2021 and the first quarter ended March 31, 2022 “should no longer be relied upon as a result of material errors and possible irregularities relating to, among other things, the manner in which the Company recognized revenue associated with the sale of hardware devices during 2021 and the first quarter of 2022.” Latch announced that the financial statements would need to be restated and that the matters underlying the revenue recognition practices are “likely to result in one or more material weaknesses in the Company’s internal control over financial reporting during the applicable periods.” Latch further disclosed that the Audit Committee’s investigation is ongoing.

Gardy & Notis, LLP is a New York-based securities litigation law firm that represents plaintiffs in investor class actions. A current or former owner of Latch common stock or warrants may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement.

Attorney advertising. Past results do not guarantee future outcomes.

James Notis
GARDY & NOTIS, LLP
+1 914-351-2460
jnotis@gardylaw.com