Latch, Inc. $1.95M Settlement for Securities Claims

If you purchased or acquired common stock of Latch, Inc. between June 7, 2021, and August 1, 2023, you may qualify to submit a claim fpr a portion of a $1.95 million class action settlement.

Latch, Inc. has agreed to this settlement to resolve allegations that it violated federal securities laws by making false and misleading statements about its financial condition and accounting practices.

Who is eligible for a payout?

To be part of the settlement class, you must meet specific criteria. The following points outline who qualifies as a class member:

• You purchased or acquired Latch common stock between June 7, 2021, and August 1, 2023.
• You did not sell all your shares before August 2, 2023.

How is the Latch securities settlement payment?

• Tier 1: Shares purchased between June 7, 2021, and August 14, 2022, and held through October 30, 2023, may receive up to $0.03 per share before deductions.
• Tier 2: Shares purchased between August 15, 2022, and August 25, 2022, and held through October 30, 2023, may receive a lesser amount due to the timing of purchase.

How to claim a settlement payout

To claim a Latch Securities Litigation settlement payment, you must submit a claim form by the April 28, 2025 deadline. You can file a claim online or download a PDF claim form and print and mail it to the settlement administrator.

Settlement Administrator's mailing address: Latch Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 North Jackson Street, Suite 205, Media, PA 19063.

What supporting documentation is required?

Claimants need to provide:

• All holding and trading information must be provided
• Holdings as of June 7, 2021
• Purchases/Acquisitions from June 7, 2021 through August 1, 2023
• Purchases/Acquisitions from August 2, 2023 through October 30, 2023
• Sales from June 7, 2021 through October 30, 2023
• Holdings as of October 30, 2023

• Supporting documentation must be provided: brokerage confirmation slips, monthly brokerage account statements, authorized statement from your broker contacting pertinent information

Latch securities settlement payment options

Each approved claimant will receive a check mailed to the address provided.

$1.95 Million settlement fund

The settlement fund of $1.95 million will cover various costs and payments, including:

• Payments to class members
• Settlement notice and administration costs
• Attorneys' fees and expenses of up to $710,000
• Service award to Lead Plaintiff of up to $5,000

Important dates

• Fairness Hearing: May 28, 2025
• Deadline to File a Claim: April 28, 2025

When is the Latch Securities Litigation payout date?

After the fairness hearing on May 28, 2025, the judge will decide whether to grant final approval to the settlement. If approved, the claims administrator will process claims and issue payments to approved claimants.

Why is there a class action settlement?

The lawsuit alleges that Latch, Inc. made false and misleading statements about its financial condition, which violated federal securities laws. The settlement resolves these claims without admission of wrongdoing by the defendants and to avoid further litigation.