INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Investigates TS Innovation Acquisitions Corp.’s Directors and Officers for Breach of Fiduciary Duties – LTCH, TSIA
INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Investigates TS Innovation Acquisitions Corp.’s Directors and Officers for Breach of Fiduciary Duties – LTCH, TSIA
NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of TS Innovation Acquisitions Corp. (“TSIA”) (NASDAQ: TSIA); n/k/a Latch, Inc. (“Latch”) (NASDAQ: LTCH) breached their fiduciary duties to TSIA’s shareholders. If you were a TSIA shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating 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, with shares currently trading at $1.24/share.
What You Can Do
If you were a TSIA shareholder, you may have legal claims against TSIA’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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Contacts
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
(844) 818-6982
jpettigrew@scott-scott.com
