CLASS ACTION UPDATE for LTCH, ABT and OPEN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / October 26, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

LTCH Shareholders Click Here: https://www.zlk.com/pslra-1/latch-inc-lawsuit-loss-submission-form?prid=33052&wire=1
ABT Shareholders Click Here: https://www.zlk.com/pslra-1/abbott-laboratories-class-action-lawsuit-submission-form?prid=33052&wire=1
OPEN Shareholders Click Here: https://www.zlk.com/pslra-1/opendoor-technologies-loss-submission-form?prid=33052&wire=1

* ADDITIONAL INFORMATION BELOW *

Latch, Inc. f/k/a TS Innovation Acquisitions Corp. LTCH

LTCH Lawsuit on behalf of: investors who purchased May 13, 2021 - August 25, 2022
Lead Plaintiff Deadline : October 31, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/latch-inc-lawsuit-loss-submission-form?prid=33052&wire=1

According to the filed complaint, during the class period, Latch, Inc. f/k/a TS Innovation Acquisitions Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) there were unreported sales arrangements related to hardware devices; (2) as a result, the Company had improperly recognized revenue throughout fiscal 2021 and first quarter 2022; (3) there were material weaknesses in Latch's internal control over financial reporting related to revenue recognition; (4) as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Abbott Laboratories ABT

This lawsuit is on behalf of all persons or entities who purchased or otherwise acquired shares of Abbott common stock during the period from February 19, 2021, to June 8, 2022, inclusive.
Lead Plaintiff Deadline : October 31, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/abbott-laboratories-class-action-lawsuit-submission-form?prid=33052&wire=1

According to the filed complaint, defendants touted the strength of Abbott's infant formula brands and their contribution to the Company's sales and revenue growth, despite knowing that the facility that manufactured those products was in flagrant violations of United States Food and Drug Administration ("FDA") health, safety, and manufacturing regulations. The complaint further alleges that defendants willfully or recklessly concealed these violations from investors, even though the violations put Abbott's infant formula business in dire jeopardy and left the Company exposed to a risk of severe regulatory action, including the recall of its products and closure of the Sturgis facility. Indeed, according to the complaint, defendants received direct warnings, communications, FDA inspection reports, and consumer complaints identifying in detail the safety and regulatory violations that were rampant at the Sturgis facility.

Opendoor Technologies Incorporated OPEN

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Opendoor securities between December 21, 2020 and September 16, 2022, both dates inclusive and/or (b) Opendoor common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020.
Lead Plaintiff Deadline : December 6, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/opendoor-technologies-loss-submission-form?prid=33052&wire=1

According to the filed complaint, (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, defendants overstated the purported benefits and competitive advantages of the algorithm; (iv) as a result, documents issued in connection with the merger between the Company and Opendoor Labs Inc. and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP