NEW YORK, NY / ACCESSWIRE / October 14, 2022 / 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.
LATCH INVESTORS WHO OWNED TSIA STOCK MAY HAVE LEGAL CLAIMS AND ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C.
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. 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 of Latch has declined significantly since the merger.
TSIA SHAREHOLDERS WHO NOW OWN LATCH STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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SOURCE: Kehoe Law Firm, P.C.