Latch’s $2 Million Investor Settlement Gets Court Approval (1)

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

Circuit Judge William C. Bryson approved the accord Wednesday in the US District Court for the District of Delaware. The settlement class covers pre-merger shareholders who got Latch stock pursuant to the 2021 deal’s paperwork. Latch—which has rebranded to DOOR—as of November was still correcting financial filings after an internal investigation found errors going back years.

• The visiting judge awarded former Latch employee Scott Schwartz $8,000, while lead counsel received ...