Block, Inc. (XYZ) Faces Securities Class Action, Regulators Levy Cash App Fines Following Investigations Going Back to Hindenburg Report– Hagens Berman

SAN FRANCISCO, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Investors in Block, Inc. (NYSE: SQ) n/k/a (NYSE: XYZ) began to learn of potentially adverse information about the company and its Square and Cash App platforms on Mar. 23, 2023, when Hindenburg Research published a scathing report on the company. After a 2-year investigation, which included dozens of interviews with former employees, partners, and industry experts, Hindenburg concluded, in part, that Block had “wildly overstated its genuine user counts” and “ ...