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Block, Inc. Sued for Securities Law Violations - Contact The Gross Law Firm Before March 18, 2025 to Discuss Your Rights - XYZ

1. A class action against Block, Inc. alleges severe compliance failures. 2. Block is accused of facilitating illicit activities via its platforms. 3. Shareholders can register for potential recovery from the class action. 4. Concerns about Block's user metrics being artificially inflated are raised. 5. Deadlines for participation and lead plaintiff registration are set.

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FAQ

Why Very Bearish?

The allegations of compliance failures could lead to significant reputational damage and regulatory scrutiny, similar to cases like Wirecard. Such incidents historically result in stock price declines due to loss of investor confidence.

How important is it?

The serious nature of the allegations and the potential financial liabilities could significantly influence XYZ's stock price and investor trust. Legal issues can deter future investors and impact operational performance.

Why Long Term?

Legal issues and regulatory investigations can take years to resolve, impacting long-term financial results. Historical cases demonstrate prolonged negative effects on companies facing similar lawsuits.

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, /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Block, Inc. (NYSE: XYZ). Shareholders who purchased shares of XYZ during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/block-inc-loss-submission-form/?id=134585&from=4  CLASS PERIOD: February 26, 2020 to April 30, 2024 ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) Block had engaged in widespread and years-long compliance lapses at Square and Cash App, including by failing to conduct basic due diligence regarding its customers' identities or the nature of customer transactions so as to prevent the platforms from being used for illegal or illicit activities; (b) Block had effectively created a haven for widespread illegal and illicit activities on its Square and Cash App platforms by imposing minimal obligations on customers seeking to open accounts, transact, and deposit or withdraw funds; encouraging the use of bitcoin; and pressuring the Company's banking partners to forgo ordinary know your customer due diligence activities; (c) thousands of transactions on Square and Cash App were made in connection with a wide variety of illegal and illicit activities, including, inter alia, money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, contract killings, and illicit payments to entities and persons subject to economic sanctions; (d) Block allowed its customers to withdraw funds even after the accounts had been flagged for potentially illegal or illicit activities; (e) Block customers could open up multiple accounts using fake identities in order to engage in illegal or illicit activities; (e) Block customers could open up multiple accounts using fake identities in order to engage in illegal or illicit activities; (f) Block's senior leadership and the Board had failed to correct identified compliance deficiencies despite numerous red flags, internal employee reports of deficiencies, and customer complaints; (g) Block's Cash App user metrics had been artificially inflated through the use of fake accounts and the ability of criminals and other bad actors to open multiple accounts; and (h), as a result of (a)-(g) above, Block was subject to a material, undisclosed risk of its conduct being exposed, thereby exposing the Company to reputational harm, adverse regulatory actions, the loss of business activity, and adverse impacts to the Company's operations and financial results. DEADLINE: March 18, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/block-inc-loss-submission-form/?id=134585&from=4  NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of XYZ during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is March 18, 2025. There is no cost or obligation to you to participate in this case. WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: [email protected] Phone: (646) 453-8903 SOURCE The Gross Law Firm WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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