NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Latch, Inc. (“Latch” or the “Company”) (NASDAQ: LTCH). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Latch and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On August 25, 2022, Latch stated in a filing with the US Securities and Exchange Commission that “[a]s previously disclosed by Latch, Inc. . . On August 10, 2022, the Audit Committee of the Company’s board of directors (the “Audit Committee”) initiated an investigation (the “Inquiry”) into possible current and historical matters, which may include, but may not be limited to, certain aspects of the current and historical performance indicators and the Company’s revenue recognition practices, including accounting, financial reporting and related internal controls.” The Company’s filing further states that “[w]While the investigation is ongoing, on August 19, 2022, based on the preliminary findings of the investigation, the Audit Committee determined that the Company’s 2021 consolidated financial statements are included in the Company’s Annual Report on Form 10-K for the year ended December 31 is , 2021 and the related report of the Company’s independent registered public accounting firm, Deloitte & Touche LLP (“Deloitte”), and the Company’s consolidated financial statements for the first quarter of 2022, which is included in the Company’s Quarterly Report on Form 10-Q for The Three Months ended March 31, 2022 should no longer be relied upon due to material errors and possible irregularities relating, among other things, to the manner in which the Company has recognized the revenue associated with the sale…