The solution for this was a compromise
I moved the code from the wp_login
hook into my meta_links function and test to see if my value exists
function dk_plugin_meta_links( $links, $file ) {
if($latestversion == "") {
//get the latest version if we don't already have it
}
(do something with) $latestversion;
}
add_filter( 'plugin_row_meta', 'dk_plugin_meta_links', 10, 2 );