Class Action Filed Against Block, Inc. (XYZ) - March 18, 2025 Deadline to Join - Contact Levi & Korsinsky

Core Viewpoint - A class action securities lawsuit has been filed against Block, Inc. alleging widespread compliance failures and securities fraud affecting investors between February 26, 2020, and April 30, 2024 [1][2]. Group 1: Allegations Against Block, Inc. - The lawsuit claims that Block engaged in significant compliance lapses 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 conducive to illegal activities by imposing minimal obligations on customers, encouraging bitcoin use, and pressuring banking partners to bypass standard due diligence [2]. - The complaint details that numerous transactions on Block's platforms were linked to illegal activities such as money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, and contract killings [2]. - Block reportedly allowed customers to withdraw funds even after accounts were flagged for suspicious activities, and customers could open multiple accounts using fake identities [2]. - The senior leadership and Board of Block are accused of failing to address known compliance issues despite numerous warnings and complaints [2]. - The lawsuit asserts that user metrics for Cash App were artificially inflated through the use of fake accounts, leading to undisclosed risks that could harm the company's reputation and financial results [2]. Group 2: Legal Process and Participation - Investors who suffered losses in Block during the specified timeframe have until March 18, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing substantial settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4].