According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business operations and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that:

• there were unreported sales arrangements related to hardware devices;
• as a result, Latch had improperly recognized revenue throughout fiscal 2021 and first quarter 2022;
• there were material weaknesses in Latch’s internal control over financial reporting related to revenue recognition;
• as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; and
• 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.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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