Investigation On Behalf Of Latch Investors Who Held TSIA Stock
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of TS Innovation Acquisitions Corp. (“TSIA”) (NASDAQ: TSIA), now known as Latch, Inc. (“Latch”) (NASDAQ: LTCH), breached their fiduciary duties to TSIA’s shareholders.
INVESTORS OF TS INNOVATION ACQUISITIONS CORP. STOCK WHO NOW HOLD LATCH STOCK SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR TSIA/LATCH HOLDINGS.
The investigation concerns whether TSIA’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether TSIA’s shareholders suffered damages as a result.
On June 3, 2021, TSIA shareholders of record as of May 11, 2021 approved a merger between TSIA and Latch’s predecessor company.
On August 25, 2022, after the market closed, Latch revealed that it would restate financial statements for 2021 and the first quarter of 2022 due to revenue recognition errors related to the sale of hardware devices. Specifically, the Company stated 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.”
The stock price has declined by over 87% since the merger.