SQ Investors Have Opportunity to Lead Block, Inc. Securities Fraud Lawsuit

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]