NEW YORK, Oct. 26, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class action lawsuits can be filed on behalf of shareholders of Latch, Inc. (NASDAQ: LTCH ), Azure Power Global Limited (NYSE : AZRE), Abbott Laboratories (NYSE: ABT) and TuSimple Holdings, Inc. (NASDAQ: TSP). Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Latch, Inc. (NASDAQ:LTCH)

Class Period: May 31, 2021 – August 25, 2022

Lead Plaintiff Deadline: October 31, 2022

On August 25, 2022, after the market closed, Latch announced that it would restate its 2021 and first quarter 2022 financial statements due to revenue recognition errors related to hardware device sales. Specifically, the company stated that “certain revenue recognition errors occurred as a result of unreported sales agreements resulting from sales activities that were inconsistent with the company’s internal controls and procedures.”

As a result of this news, Latch’s stock fell $0.13, or 12.2%, on unusually high trading volume to close at $0.95 per share on August 26, 2022.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors: (1) that there were undisclosed hardware device sales agreements; (2) as a result, the Company had incorrectly recognized revenue throughout fiscal year 2021 and the first quarter of 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 its financial statements for fiscal year 2021 and the first quarter of 2022; and (5)…