Latch, Inc. Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information

ACCESSWIRE 28-Sep-2022 11:33 AM

BOSTON, MA / ACCESSWIRE / September 28, 2022 / Block & Leviton announces that a class action lawsuit has been filed against Latch, Inc. (NASDAQ:LTCH) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ltch.

What is this all about?

After the market had closed on August 25, 2022, enterprise technology company, Latch, Inc., disclosed that the Company's financial statements for 2021 and Q1 2022 should no longer be relied upon and would need to be restated following preliminary findings of an audit committee investigation regarding revenue recognition practices.

Previously, Latch had slashed guidance by 25% when announcing Q4 2021 financial results after the market had closed on February 24, 2022.

Latch, Inc. went public via deSPAC transaction in June of 2021.

Shares of Latch, Inc. fell more than 12% in intraday trading on August 26, 2022, following the restatement announcement and had previously fallen by 24% in intraday trading on February 25, 2022, after the guidance cut.

Who is eligible?

Anyone who purchased Latch, Inc. stock between May 13, 2021 and August 25, 2022 is eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What should you do next?

The deadline to seek appointment as lead plaintiff is October 31, 2022. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
www.blockleviton.com

SOURCE: Block & Leviton LLP