Settlement Reached in Schwartz v. Latch, Inc. Class Action Case, Affecting Stockholders
In a significant development, a proposed settlement has been announced in the class action lawsuit titled Schwartz v. Latch, Inc., pending in the United States District Court for the District of Delaware. This action stems from allegations made by Scott Schwartz, the lead plaintiff, on behalf of others who, like him, were stockholders of pre-merger Latch, Inc. (referred to as 'Legacy Latch'). The lawsuit focuses on the claims regarding the company’s merger with TS Innovation Acquisitions, Inc. that took place on June 4, 2021. The total amount proposed for settlement is a substantial $1,950,000.
The class action lawsuit arises from concerns that investors may have been adversely affected during and after the merger process with TS Innovation. As part of the agreement, the Settlement Class includes individuals and entities that acquired Latch, Inc.'s common stock and felt the impact of the merger. The settlement seeks to address the claims and provide financial restitution to those impacted.
A hearing is set to take place on December 9, 2025, presided over by the Honorable William C. Bryson. During this hearing, crucial matters will be discussed, including the fairness and reasonableness of the proposed settlement. Moreover, the plan for the allocation of funds among the Settlement Class members will also be reviewed. Notably, Lead Counsel’s request for attorneys’ fees and expenses will be evaluated as well. It’s worth mentioning that interested parties do not need to attend the settlement hearing to be eligible for payment from the Net Settlement Fund.
For those identified as members of the Settlement Class, it is essential to note that rights may be impacted depending on the proposed settlement’s outcome. A Notice of Pendency has been disseminated, providing crucial details on how to file a claim to benefit from the settlement. Interested class members must submit a valid Claim Form either online or via post by no later than November 10, 2025. This is vital to ensuring eligibility for any distribution resulting from the settlement fund.
In case any member of the Settlement Class wishes to opt out, they must adhere to specific instructions as outlined in the Notice. To successfully exclude themselves, written requests must reach the court by November 9, 2025. It’s important to highlight that opting out will allow individuals to avoid any binding judgments related to the lawsuit, although they will also forfeit the opportunity to receive any financial compensation from the settlement.
Additionally, those interested in objecting to the proposed settlement or other related applications have until November 18, 2025, to file their objections with the court.
Class members can obtain further details by contacting the Claims Administrator via their website or direct phone line. They can visit www.rg2claims.com/LegacyLatch.html for access to the Notice and Claim Form or reach out at 1-866-742-4955 for additional inquiries.
This settlement case not only highlights the importance of investor awareness but also reinforces the significance of legal recourse available for shareholders during merger and acquisition processes. As the settlement hearing approaches, all eyes will be on the proceedings and their implications for the Settlement Class members involved in the Schwartz lawsuit.
Background of the Case
The class action lawsuit arises from concerns that investors may have been adversely affected during and after the merger process with TS Innovation. As part of the agreement, the Settlement Class includes individuals and entities that acquired Latch, Inc.'s common stock and felt the impact of the merger. The settlement seeks to address the claims and provide financial restitution to those impacted.
Important Dates and Hearing
A hearing is set to take place on December 9, 2025, presided over by the Honorable William C. Bryson. During this hearing, crucial matters will be discussed, including the fairness and reasonableness of the proposed settlement. Moreover, the plan for the allocation of funds among the Settlement Class members will also be reviewed. Notably, Lead Counsel’s request for attorneys’ fees and expenses will be evaluated as well. It’s worth mentioning that interested parties do not need to attend the settlement hearing to be eligible for payment from the Net Settlement Fund.
Shareholders’ Rights and Claims Submission
For those identified as members of the Settlement Class, it is essential to note that rights may be impacted depending on the proposed settlement’s outcome. A Notice of Pendency has been disseminated, providing crucial details on how to file a claim to benefit from the settlement. Interested class members must submit a valid Claim Form either online or via post by no later than November 10, 2025. This is vital to ensuring eligibility for any distribution resulting from the settlement fund.
Exclusion and Objection Procedures
In case any member of the Settlement Class wishes to opt out, they must adhere to specific instructions as outlined in the Notice. To successfully exclude themselves, written requests must reach the court by November 9, 2025. It’s important to highlight that opting out will allow individuals to avoid any binding judgments related to the lawsuit, although they will also forfeit the opportunity to receive any financial compensation from the settlement.
Additionally, those interested in objecting to the proposed settlement or other related applications have until November 18, 2025, to file their objections with the court.
How to Get More Information
Class members can obtain further details by contacting the Claims Administrator via their website or direct phone line. They can visit www.rg2claims.com/LegacyLatch.html for access to the Notice and Claim Form or reach out at 1-866-742-4955 for additional inquiries.
This settlement case not only highlights the importance of investor awareness but also reinforces the significance of legal recourse available for shareholders during merger and acquisition processes. As the settlement hearing approaches, all eyes will be on the proceedings and their implications for the Settlement Class members involved in the Schwartz lawsuit.
Topics Policy & Public Interest）
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