Latch, CEO, and CFO Sued; Alleges Fraud

"False ***/** ********** **********"

*** ******* ***** *********,******* *. *****, ***,******* ***** **** ***** ***/** ********** statements ** **** ** ****** ** disclose ******** *********** ***** *** *******. This ******** "********** ***** ************ " and ******** ******* ***********.

********** *** ***** ******, ********** **** materially ***** ***/** ********** **********, ** well ** ****** ** ******** ******** adverse ***** ***** *** *******’* ********, operations, *** *********. ************, ********** ****** to ******** ** *********: (*) **** there ****unreported ***** ************ related to hardware devices; (2) that, as a result, the Company hadimproperly ********** ******* throughout fiscal 2021 and first quarter 2022; (3) that there were material weaknesses in Latch’s internal control over financial reporting related to revenue recognition; (4) that, as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; [emphasis added]

************, *** ******* ******* ******* ********** mislead *********, ********* ** ****** *** damages:

(*) ****, ** * ****** ** the *********,Defendants’ ******** ********** about the Company’s business, operations, and prospectswere ********** ********** and/or lacked a reasonable basis.

** * ****** ** **********’ ******** acts *** *********, *** *** *********** decline ** *** ****** ***** ** the *******’* **********, ********* *** ***** Class *******have ******** *********** ****** *** *******. [emphasis added]

Schemes ** *******

*** ******* ****** *** ****** ** May **, **** ******* ****** **, 2022 *** ******* *** ******* *** its ********** **** ******* ** ******* to ******* ********* ** ******** ** artificially **** ***** ***** *** *****:

********** (*)employed *******, *******, *** ********* ** *******; (ii) made untrue statements of material fact and/or omitted to state material facts necessary to make the statements not misleading; and (iii) engaged in acts, practices, and a course of business which operated as a fraud and deceit upon the purchasers of the Company’s securities in an effort to maintain ************ **** ****** ****** *** *****’* ********** [emphasis added]

**** *** **** ****** *** ******* covers, ***** **** **** **% ** its *****, ** ***** * $* share *****. *******, *****'* ***** ***** surged ** ** ****, ******* ** high ** $**.** ** *********, ****, up ~**% **** **'* ******* ********:

Growing ******** *** *****

**** ******** ********** ** ******** ********** practices ** ***** (***:***** *** ****** "**** *********" **** 38% "*** ****" ******** *******).

********, **** ******** *** ****** **************** ***** *********** *** ******** ********, * ****** ***** ******** ** investors ******* *** ******* *** ******** presentations.

More ******** ******

***** ***** ****** *** ********** ******* & ******** *** ***** ******* **** ***** filed, ****** *** ****** ** ******. Yesterday, ****** ******* ** ****** *. ***** announced**** **** ***** ****. ************,****** ***** & ******, *.************** *** ************* ***** *** "********* claims".

** *** **** **** ******* ***** of **** ******** *****, ** **** update *** *********.