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Latch, Inc. Stockholder Litigation

866-217-4469

This official website is maintained by the Settlement Administrator under the supervision of Lead Counsel for the members of the Class in the Action entitled In Re TS Innovation Acquisitions Sponsor, L.L.C. Stockholder Litigation, Consolidated C.A. No. 2023-0509-LWW pending in the Court of Chancery of the State of Delaware.

The information contained on this website is only a summary of the information presented in more detail in the Supplemental Corrected Notice of Claims Process and Plan of Allocation (the “Notice”). The Notice is to correct the prior description of the claim process, which stated that you did not need to submit a claim to ensure maximum recovery. Under the plan of allocation, you must submit proof of claim in order to receive maximum recovery under the settlement. To ensure maximum recovery in this action, you now must submit a proof of claim by no later than July 14, 2025, which you can access here. Because this website is just a summary, you should review the Notice for additional details.

This website relates to a stockholder class action (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”), if you were a public stockholder of Latch, Inc. f/k/a TS Innovation Acquisitions, Inc. (the “Company”) at any time during the period between the close of business on May 11, 2021 (the “Record Date”) through June 4, 2021 (the “Closing Date”) (the “Class Period”).

Please be advised that the notice previously provided in this class action has been supplemented as set forth herein as per order of the Delaware Court of Chancery. As a result of the Court’s Order, the Plan of Allocation has been modified as described herein. While the previously provided notice stated that Eligible Settlement Class Members did not need to submit a Proof of Claim to ensure maximum recovery under the Settlement, Eligible Settlement Class Members do need to submit a Proof of Claim in order to be eligible to receive maximum recovery. This notice corrects the previous notice in that regard to make sure that you know to submit a Proof of Claim if you want to receive maximum recovery.

Please be advised that (i) plaintiffs Robert Garfield, Phanindra Kilari, and Subash Subramanian (collectively the “Plaintiffs”) for themselves and on behalf of the Settlement Class; (ii) defendants Robert J. Speyer, Paul A. Galiano, Jenny Wong, Joshua Kazam, Jennifer Rubio, Ned Segal, Michelangelo Volpi, and Jerry I. Speyer (collectively, the “Individual Defendants”) and TS Innovation Acquisitions Sponsor, L.L.C., Tishman Speyer Properties, L.P., and Tishman Speyer Properties, Inc., (the “TS Defendants” and together with the Individual Defendants, the “Defendants”); and (iii) non-party Latch, Inc. (the “Company” and together with Plaintiffs and Defendants, the “Settling Parties”) have reached a proposed settlement for $29,750,000 in cash (the “Settlement Amount”) as set forth in the Stipulation (the “Settlement”). The Settlement, if approved, will resolve all claims in the Action.

If you are a member of the Settlement Class, you are subject to the Settlement. The Settlement Class preliminary certified by the Court solely for purposes of the Settlement consists of:

All record and beneficial holders of Eligible Shares (defined as shares of TSIA Common Stock owned by Settlement Class Members immediately after the Redemption Deadline (June 1, 2021 at 5:00 pm EST) that were not submitted for redemption in connection with the Merger), whether held as separate shares of Common Stock or as part of Public Units, who held such shares between the close of business on May 11, 2021 (the “Record Date”) and June 4, 2021 (the “Closing”) (the “Class Period”), and their successors in interest, but excluding (i) (a) Defendants; (b) members of the immediate family of any Individual Defendant; (c) any person who was a manager or managing member of any TS Defendant during the Class Period and any members of their immediate family; (d) any parent, subsidiary, or affiliate of a TS Defendant; (e) any entity in which any Defendant or any other excluded person or entity has, or had during the Class Period, a controlling interest; and (f) the legal representatives, agents, affiliates, heirs, estates, successors, or assigns of any such excluded persons or entities; and (ii) (a) the Company; and (b) any person who was an officer or director of the Company during the Class Period and any members of their immediate family. For the avoidance of doubt, the Settlement Class does not include holders of TSIA securities other than Common Stock, including warrants.

PLEASE NOTE: The Settlement Class is a non-“opt-out” class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Settlement Class Members do not have the right to exclude themselves from the Settlement Class.

Please Note: If you are eligible to receive a payment from the Net Settlement Fund, you must submit a claim form in order to receive your maximum potential recovery.

PLEASE READ THE NOTICE CAREFULLY AND IN ITS ENTIRETY. The Notice explains how Settlement Class Members will be affected by the Settlement. Receipt of this Supplemental Corrected Notice does not mean that you are a Settlement Class Member or an Eligible Settlement Class Member or that you will be entitled to receive a payment from the Settlement.

Please be patient. If the Settlement is approved by the Court, it will take some time to conduct the Settlement distribution.