SAN DIEGO, Jan. 19, 2025
/PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Block, Inc. (NYSE: SQ) Class A common stock between February 26, 2020 and April 30, 2024, inclusive (the "Class Period"), have until March 18, 2025 to seek appointment as lead plaintiff of the Block class action lawsuit. Captioned Gonsalves v. Block, Inc., No. 25-00642 (N.D. Cal.), the Block class action lawsuit charges Block and certain of Block's top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Block class action lawsuit, please provide your information here:
Link to Information
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].
CASE ALLEGATIONS:
Block is a financial technology conglomerate. Block's inaugural product is Square, a financial services platform for small and medium-sized businesses. Block later launched Cash App (f/k/a "Square Cash"), a mobile payment service that allows users to transfer money using a mobile phone.
The Block class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Block had engaged in widespread and years-long compliance lapses at Square and Cash App.
- Block effectively created a haven for widespread illegal and illicit activities on its platforms.
- Thousands of transactions on Square and Cash App were made in connection with a wide variety of illegal activities.
- Block allowed customers to withdraw funds even after accounts were flagged for illegal activities.
- Customers could open multiple accounts using fake identities.
- Block's leadership failed to correct identified compliance deficiencies.
- Cash App user metrics were artificially inflated.
- Block was subject to undisclosed risks of reputational harm and regulatory actions due to their conduct.
On March 23, 2023, Hindenburg Research published a damaging exposé on Block, leading to a price drop of nearly 15% in Block Class A common stock. Further investigations and allegations followed, with significant price impacts on the stock.
THE LEAD PLAINTIFF PROCESS:
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Block Class A common stock during the Class Period to seek appointment as lead plaintiff in the Block class action lawsuit. A lead plaintiff acts on behalf of all other class members and can select a law firm of their choice for litigation.
ABOUT ROBBINS GELLER:
Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six of the last ten years. We recovered $6.6 billion for investors. Please visit for more information:
Robbins Geller Services
Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
[email protected]
SOURCE Robbins Geller Rudman & Dowd LLP
