Latch’s $2 Million Investor Settlement Wins Initial Court Assent

Latch Inc.‘s $1.95 million agreement to end a former employee’s lawsuit tied to the “smart lock” maker’s blank-check merger and accounting errors received a federal judge’s nod.

Circuit Judge William C. Bryson preliminarily approved the accord covering pre-merger shareholders who got Latch stock pursuant to the 2021 deal to go public’s paperwork. The class’s lead counsel expects to seek a third of the sum in attorneys’ fees, the visiting judge said in the US District Court for the District of Delaware Monday. Latch—which is rebranding to DOOR—is still correcting financial filings after an internal investigation found errors going ...