Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Block, Inc. regarding a class action lawsuit due to allegations of compliance failures and misleading statements during the specified class period [1][3]. Allegations Summary - The complaint alleges that Block engaged in significant compliance lapses at Square and Cash App, failing to conduct due diligence on customer identities and transactions, which allowed illegal activities to proliferate [3]. - Block is accused of creating an environment conducive to illegal activities by imposing minimal obligations on customers and encouraging the use of bitcoin, while pressuring banking partners to bypass standard due diligence [3]. - Numerous transactions linked to illegal activities such as money laundering, child sexual abuse, and drug trafficking were reportedly facilitated through Block's platforms [3]. - The company allegedly allowed customers to withdraw funds from flagged accounts and permitted the opening of multiple accounts using fake identities, further enabling illicit activities [3]. - Senior leadership and the Board are claimed to have ignored compliance deficiencies despite numerous warnings and complaints, leading to inflated user metrics through fake accounts [3]. - As a result of these actions, Block faced undisclosed risks that could lead to reputational damage, regulatory actions, and negative impacts on operations and financial results [3]. Next Steps for Shareholders - Shareholders who purchased shares during the class period are encouraged to register for the class action by March 18, 2025, to potentially become lead plaintiffs [4]. - Registration will provide shareholders with updates throughout the case lifecycle, with no cost or obligation to participate [4]. Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and illegal business practices [5].

Core Viewpoint - Investors with significant losses in Block, Inc. have the opportunity to lead a securities fraud class action lawsuit against the company due to alleged compliance failures and misleading statements regarding its operations and risks [1][3]. Group 1: Allegations Against Block, Inc. - The lawsuit alleges that from February 26, 2020, to April 30, 2024, Block failed to disclose widespread compliance lapses at its Square and Cash App platforms, which allowed for illegal activities [3]. - Block allegedly created an environment conducive to illegal activities by imposing minimal obligations on customers and encouraging the use of bitcoin, while pressuring banking partners to bypass due diligence [3]. - Thousands of transactions on Block's platforms were linked to illegal activities, including money laundering, child sexual abuse, and drug trafficking [3]. - Block reportedly allowed customers to withdraw funds from flagged accounts and permitted multiple accounts to be opened using fake identities [3]. - Senior leadership and the Board of Directors are accused of failing to address known compliance issues despite numerous warnings and complaints [3]. - The user metrics for Cash App were allegedly inflated through the use of fake accounts, contributing to a material risk of reputational harm and regulatory actions [3]. - Positive statements made by Block regarding its business and prospects were claimed to be materially misleading and lacked a reasonable basis [3].

Core Viewpoint - A class action lawsuit has been filed against Block, Inc. concerning allegations of securities fraud and unlawful business practices [2]. Group 1: Allegations and Investigations - Federal regulators are investigating allegations from whistleblowers that Block's Cash App performed inadequate due diligence on users, potentially facilitating money laundering and other illegal activities [3]. - Whistleblowers described Block as operating a "shadow financial system" and detailed transactions with entities under U.S. sanctions, as well as operations selling personal information for illegal purposes [3]. - A former employee alleged that Block engaged in widespread compliance lapses, including processing transactions involving sanctioned countries and cryptocurrency transactions for terrorist groups [5]. Group 2: Stock Price Impact - Following the news of the investigations on February 16, 2024, Block's Class A common stock price fell by $3.84, or 5.53%, closing at $65.64 [4]. - On May 1, 2024, after further allegations emerged, Block's Class A common stock price dropped by $6.16, or 8.44%, closing at $66.84 [6]. Group 3: Legal Representation - Pomerantz LLP, a firm specializing in corporate and securities class litigation, is leading the class action lawsuit against Block [7].

Core Viewpoint - A class action securities lawsuit has been filed against Block, Inc. alleging securities fraud that affected investors between February 26, 2020, and April 30, 2024 [1]. Group 1: Allegations of Fraud - The lawsuit claims that Block engaged in significant compliance failures at its Square and Cash App platforms, failing to conduct due diligence on customer identities and transactions [2]. - It is alleged that Block created an environment that facilitated illegal activities, including money laundering, child sexual abuse, and drug trafficking, by imposing minimal requirements for account creation and transactions [2]. - The complaint states that Block's leadership ignored numerous red flags and internal reports regarding compliance issues, leading to inflated user metrics through fake accounts [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until March 18, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate in the lawsuit [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders and consistently ranking among the top securities litigation firms in the U.S. [4].

Core Viewpoint - A class action lawsuit has been filed against Block, Inc. for alleged violations of securities laws, with claims of false and misleading statements regarding compliance and illegal activities on its platforms [1][4]. Group 1: Lawsuit Details - The lawsuit pertains to Block, Inc. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased Block's securities between February 26, 2020, and April 30, 2024, are encouraged to participate in the lawsuit [2]. - The class has not yet been certified, meaning potential participants are not currently represented by an attorney [3]. Group 2: Allegations Against Block, Inc. - The complaint alleges that Block made false and misleading statements and engaged in compliance lapses at Square and Cash App over several years [4]. - Block is accused of creating an environment that facilitated illegal activities, including money laundering and financing child exploitation, by neglecting standard due diligence practices [4]. - The company allegedly inflated its performance metrics through the use of fake accounts and allowed criminals to open multiple accounts, leading to investor losses when the truth was revealed [4].

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Block, Inc. Class A common stock between February 26, 2020, and April 30, 2024, due to alleged compliance failures and misleading statements by the company [1][5]. Group 1: Class Action Details - The class action lawsuit has already been filed, and investors who purchased Block Class A common stock during the specified period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2][3]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly [3][6]. Group 2: Allegations Against Block, Inc. - The lawsuit claims that Block engaged in widespread compliance lapses, failing to conduct due diligence on customer identities and transactions, which allowed illegal activities to proliferate on its platforms [5]. - Specific allegations include facilitating money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, and other illicit activities through inadequate customer verification processes [5]. - The lawsuit also states that Block's leadership failed to address known compliance deficiencies, leading to inflated user metrics and exposing the company to significant reputational and regulatory risks [5].

Core Viewpoint - Block, Inc. is facing a class action lawsuit due to allegations of compliance failures and misleading statements regarding its financial technology platforms, Square and Cash App, which allegedly facilitated illegal activities [3][4][5]. Group 1: Lawsuit Details - The class action lawsuit, Gonsalves v. Block, Inc., allows purchasers of Block Class A common stock from February 26, 2020, to April 30, 2024, to seek lead plaintiff status by March 18, 2025 [1]. - The lawsuit alleges that Block engaged in widespread compliance lapses, failing to conduct due diligence on customer identities and transactions, which allowed illegal activities to proliferate on its platforms [3][4]. Group 2: Allegations Against Block - Specific allegations include that Block created a haven for illegal activities by imposing minimal obligations on customers, encouraging bitcoin use, and pressuring banking partners to bypass due diligence [3]. - The lawsuit claims that thousands of transactions on Square and Cash App were linked to serious illegal activities, including money laundering and terrorism financing [3]. - Block's leadership allegedly ignored numerous red flags and internal reports regarding compliance deficiencies, leading to inflated user metrics through fake accounts [3][6]. Group 3: Impact on Stock Price - Following the publication of a critical report by Hindenburg Research on March 23, 2023, Block's stock price fell nearly 15% [4]. - Subsequent disclosures of investigations by the SEC and DOJ led to further declines in stock price, with a nearly 14% drop on August 3, 2023, and over 5% on February 16, 2024 [5][6]. - A report on May 1, 2024, regarding federal investigations into compliance lapses resulted in an additional stock price decline of over 8% [7][8].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Block, Inc. regarding a class action lawsuit alleging that the company engaged in widespread compliance lapses and failed to disclose material information that led to illegal activities on its platforms [1]. Allegations Summary - Block allegedly issued materially false and misleading statements during the class period from February 26, 2020, to April 30, 2024 [1]. - The company is accused of failing to conduct due diligence on customer identities and transactions, allowing its platforms to be used for illegal activities [1]. - Specific illegal activities linked to Block's platforms include money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, and contract killings [1]. - Block reportedly allowed customers to withdraw funds even after accounts were flagged for suspicious activities [1]. - The company allegedly permitted customers to open multiple accounts using fake identities, facilitating illegal activities [1]. - Senior leadership and the Board are accused of failing to address compliance deficiencies despite numerous warnings and complaints [1]. - Block's user metrics for Cash App were allegedly inflated through the use of fake accounts [1]. - As a result of these issues, Block faced undisclosed risks that could lead to reputational harm, regulatory actions, and negative impacts on operations and financial results [1]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by March 18, 2025, to participate in potential recovery [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2]. Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].

NEW YORK, Jan. 24, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Block, Inc. ("Block" or the "Company") (NYSE: SQ) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Block investors who were adversely affected by alleged securities fraud between February 26, 2020 and April 30, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/block-inc-lawsuit-submission-form-2?prid=1246 ...

Class Action Lawsuit Overview - A shareholder filed a class action lawsuit on behalf of purchasers of Block, Inc Class A common stock between February 26, 2020, and April 30, 2024 [1] - Investors who purchased Block Class A common stock during the Class Period may be entitled to compensation without payment of any out-of-pocket fees or costs [2] - To join the Block class action, investors can visit the provided website or contact Phillip Kim, Esq [3][6] Details of the Case - Block allegedly made false and misleading statements and/or failed to disclose compliance lapses at Square and Cash App, including failure to conduct basic due diligence regarding customer identities and transactions [5] - Block allegedly created a haven for illegal and illicit activities on its platforms by imposing minimal obligations on customers and pressuring banking partners to forgo due diligence activities [5] - Thousands of transactions on Square and Cash App were allegedly connected to illegal activities such as money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, contract killings, and illicit payments to sanctioned entities [5] - Block allegedly allowed customers to withdraw funds even after accounts were flagged for potentially illegal activities and permitted the opening of multiple accounts using fake identities [5] - Block's senior leadership and Board of Directors allegedly failed to correct identified compliance deficiencies despite numerous red flags, internal reports, and customer complaints [5] - Block's Cash App user metrics were allegedly artificially inflated through the use of fake accounts and the ability of criminals to open multiple accounts [5] - Block was allegedly subject to a material, undisclosed risk of reputational harm, adverse regulatory actions, loss of business activity, and adverse impacts to operations and financial results [5] Rosen Law Firm Background - Rosen Law Firm represents investors globally, specializing in securities class actions and shareholder derivative litigation [4] - The firm achieved the largest ever securities class action settlement against a Chinese company and was ranked No 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017 [4] - Rosen Law Firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4] - Founding partner Laurence Rosen was named by Law360 as a Titan of Plaintiffs' Bar in 2020, and many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers [4] Next Steps for Investors - Investors can join the Block class action by visiting the provided website or contacting Phillip Kim, Esq [3][6] - No class has been certified yet, and investors are not represented by counsel unless they retain one [7] - Investors may select counsel of their choice or remain an absent class member, with the ability to share in any potential future recovery not dependent upon serving as lead plaintiff [7]