If you held TS Innovation Acquisitions Corp. (TSIA) Class A common stock between May 11, 2021, and June 4, 2021, and did not redeem your shares in connection with the company’s merger with Latch Systems, Inc., you may be eligible to receive compensation from a $29.75 million class action settlement.
The lawsuit alleged that TSIA and its affiliates breached fiduciary duties during the merger process, resulting in financial losses for shareholders. TSIA has agreed to settle the case without admitting any wrongdoing.
Who Qualifies for a Payment?
You may be eligible if:
- You held TSIA Class A common stock as of June 1, 2021, at 5:00 PM ET (the redemption deadline),
- You did not redeem those shares in connection with the merger, and
- You continuously held the shares at any time from May 11, 2021, through June 4, 2021.
Settlement Payment Options
There are two types of payments available:
1. Nominal Damages – No Claim Form Required
- You’ll automatically receive $0.10 per eligible share held on June 1, 2021 (post-redemption deadline).
2. Additional Damages – Requires Claim Submission
- If you sold your eligible shares between June 4, 2021, and November 29, 2024, for less than $10.00 per share, you may receive the difference between $10.00 and the price at which you sold.
- If you held the shares as of November 29, 2024, you may receive $9.83 per share.
How to Submit a Claim for Additional Damages
To receive a payout under the Additional Damages category, submit a Proof of Claim form by July 14, 2025:
- Online submission: via the official settlement website
- By mail: Send to
Latch Stockholder Settlement
c/o A.B. Data, Ltd.
P.O. Box 173041
Milwaukee, WI 53217 - You must include documentation such as brokerage statements or trade confirmations to validate your share ownership and transactions.
Payment Methods
Approved claims will be paid via:
- Mailed check
- Electronic payment, if selected
Settlement Fund Overview
The total settlement fund of $29.75 million will cover:
- Attorneys’ fees and expenses: Up to $7 million
- Administrative costs: At least $750,000
- Service awards: Up to $10,000 per plaintiff
- Remaining funds: Distributed to eligible shareholders
Important Dates
- Fairness Hearing: Held on March 27, 2025
- Claim Submission Deadline: July 14, 2025
Note: Payments will be made after court approval is finalized, the claims deadline has passed, and all claims are processed.
What Was the Lawsuit About?
The case arose from allegations that TSIA’s executives failed to act in shareholders’ best interests during the merger with Latch Systems, Inc. Shareholders argued that this mismanagement caused financial harm.
The company denies these allegations but opted to settle to avoid further legal expenses and risks associated with prolonged litigation.
Estimated Award: Varies by shareholding and sale date
Claim Deadline: July 14, 2025
Status: Settlement open for claims
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
