DOOR Settles SEC Probe, Closing Four-Year Legal Overhaul
A $1 million civil penalty has officially closed the SEC’s investigation into DOOR, the St. Louis-based building intelligence firm. The settlement marks the final chapter of a complex four-year restructuring process that began in 2022, allowing the company to pivot its resources back toward core operations and profitability.
The SEC investigation focused on historical practices regarding revenue recognition and performance indicators. Under the terms of the agreement, DOOR will pay the penalty in quarterly installments without admitting or denying the findings. This resolution arrives after a period of intense financial correction for the firm.
Since late 2024, the company has undergone a rigorous cleanup of its corporate governance. This included filing seven years of financial statements and successfully settling four separate shareholder lawsuits by August 2026. By February 2026, the firm had finally restored its current status with SEC reporting obligations.
CEO David Lillis noted that the leadership team inherited a fractured legal and financial landscape. With these legacy matters now resolved, the company intends to redirect its capital and focus toward its software and hardware systems for building management. The company, formerly known as Latch, Inc., plans to concentrate on supporting residential portfolios and purpose-built communities from its Missouri headquarters.
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