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On July 20, 2026, the U.S. District Court for the Southern District of New York granted preliminary approval of a…
LTCHLatch, Inc.
On July 20, 2026, the U.S. District Court for the Southern District of New York granted preliminary approval of a proposed settlement resolving consolidated stockholder derivative actions alleging breaches of fiduciary duty and false statements regarding financial metrics from May 2021 through August 2022. The settlement requires Latch to implement corporate governance reforms, including appointing a Lead Independent Director if the Chairman is not independent, establishing a Disclosure Committee, and conducting annual accounting training, for at least three-and-a-half years. Additionally, Latch or its insurers will pay $450,000 in attorneys' fees and expenses to plaintiffs' counsel, with up to $2,000 service awards per plaintiff. The final approval hearing is scheduled for October 6, 2026. Latch, Inc. operates in the smart building technology industry, providing software solutions for access control and environmental management.