On February 13, 2024, Scout Fund I LP announced that it has sent an open letter to SmartRent Inc stating that since merging with Fifth Wall Acquisition Corp the Company?s shares have plunged more than 70%, it believed that this alarming decline reflects investor disappointment, confusion, and skepticism. In addition, Scout Fund stated that it is calling the Company management promptly address and clarify the unresolved issues regarding 1) inconsistent messaging, especially regarding strategy, 2) insufficient and unclear disclosures, especially in SaaS, 3) major unaddressed corporate governance issues. Further, Scout Fund stated that it reiterates to the board, that its duty to shareholders requires the board to hold management accountable for performance and to uphold standards of corporate governance befitting of a public company and believed that all the highlighted issues can be addressed, if management prioritizes transparency and promptly implements necessary changes, encourages management to respond proactively for the benefit of all stakeholders.