Latch derivative lawsuit receives preliminary court approval; governance reforms and $450K fee agreed

Latch, Inc.

U.S. District Court granted preliminary approval of derivative settlement on July 20, 2026.
Settlement includes corporate governance reforms to be maintained for at least 3.5 years.
Company/insurers to pay $450,000 in attorneys' fees and expenses to plaintiffs' counsel.
Derivative action alleged false financial statements and accounting restatements from May 2021 to Aug 2022.
Settlement resolves claims against individual defendants including former CEO Luke Schoenfelder.

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