12%+ Loss | LTCH Stock News | Latch Inc Securities Class Action Lawsuit
Автор: Levi & Korsinsky LLP
Загружено: 2022-09-29
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Deadline October 31, 2022, Learn More 👉 https://bit.ly/LTCH-NASDAQ
12%+ Loss | LTCH Stock News | Latch Inc Securities Class Action Lawsuit #LTCH
LTCH Stock News and Latch Inc
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 in Form 8-K filed with the SEC
Investors, did you purchase or otherwise acquired Latch securities between May 13, 2021 and August 25, 2022
According to the complaint, defendants made false statements and/or concealed that:
(1) there were unreported sales arrangements related to hardware devices;
(2) as a result, the Company had improperly recognized revenue throughout fiscal 2021 and first quarter 2022;
(3) there were material weaknesses in Latch’s internal control over financial reporting related to revenue recognition;
(4) as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; and
(5) 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.
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LTCH Stock News and Latch Inc
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