Mon, 26 Sep 2022

NEW YORK, NY / ACCESSWIRE / September 20, 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.

TUYA Shareholders Click Here: https://www.zlk.com/pslra-1/tuya-lawsuit-loss-submission-form?prid=31974&wire=1
LFST Shareholders Click Here: https://www.zlk.com/pslra-1/lifestance-health-lawsuit-loss-submission-form?prid=31974&wire=1
LTCH Shareholders Click Here: https://www.zlk.com/pslra-1/latch-inc-lawsuit-loss-submission-form?prid=31974&wire=1

* ADDITIONAL INFORMATION BELOW *

Levi & Korsinsky, LLP, Tuesday, September 20, 2022, Press release picture

Tuya Inc. (NYSE:TUYA)

This lawsuit is on behalf of all persons or entities who purchased Tuya American Depositary Shares in or traceable to the Company's March 2021 initial public offering.
Lead Plaintiff Deadline: October 11, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/tuya-lawsuit-loss-submission-form?prid=31974&wire=1

According to the filed complaint, (a) a material portion of Tuya's China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com's terms of use; (b) prior to the initial public offering, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya's clients, among others, which included, inter alia, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (c) as a result of (a) and (b) above, there was a substantial risk that a material portion of Tuya's significant customers would be barred from using Amazon.com's platform, negatively impacting Tuya's business, revenue, earnings, and prospects; and (d) as a result of (a)-(c) above, the registration statement's representations regarding Tuya's historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the initial public offering, and such statements were materially false and misleading and lacked a reasonable factual basis.

LifeStance Health Group, Inc. (NASDAQ: LFST)

This lawsuit is on behalf of all purchasers of LifeStance common stock pursuant and/or traceable to the documents issued in connection with LifeStance's June 10, 2021 initial public stock offering.
Lead Plaintiff Deadline: October 11, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/lifestance-health-lawsuit-loss-submission-form?prid=31974&wire=1

According to the filed complaint, (i) the number of virtual visits clients were undertaking utilizing LifeStance Health was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining LifeStance Health's out-patient/virtual revenue growth; (ii) the percentage of in-person visits clients were undertaking utilizing LifeStance Health was increasing as the COVID-19 lockdowns were being lifted, thereby causing LifeStance Health's operating expenses to increase substantially; (iii) LifeStance Health had lost a large number of physicians due to burn-out and, as a result, its physician retention rate had fallen significantly below the 87% highlighted in the initial public offering's registration statement, and LifeStance Health had been expending additional costs to onboard new physicians who were less productive than the outgoing physicians they were replacing; and (iv) as a result, LifeStance Health's business metrics and financial prospects were not as strong as the initial public offering's registration statement represented.

Latch, Inc. f/k/a TS Innovation Acquisitions Corp. (NASDAQ: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=31974&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.

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



View source version on accesswire.com:
https://www.accesswire.com/716747/CLASS-ACTION-UPDATE-for-TUYA-LFST-and-LTCH-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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