This name is a synonym of Cattleya schroederae (Rchb.f.) Sander.
The record derives from WCSP
(data supplied on 2012-03-23)
which reports it as a synonym (record 464473) with original publication details: Reichenbachia II, 1: 37 1887.
This name record (from WCSP) was not included in version 1 of The Plant List. It is possible the same name was included from a different data source, to check this you can search for Cattleya labiata in version 1 of The Plant List.