Core Viewpoint - Block, Inc. is facing a class action lawsuit due to allegations of compliance failures and misleading statements regarding its financial technology platforms, Square and Cash App, which allegedly facilitated illegal activities [3][4][5]. Group 1: Lawsuit Details - The class action lawsuit, Gonsalves v. Block, Inc., allows purchasers of Block Class A common stock from February 26, 2020, to April 30, 2024, to seek lead plaintiff status by March 18, 2025 [1]. - The lawsuit alleges that Block engaged in widespread compliance lapses, failing to conduct due diligence on customer identities and transactions, which allowed illegal activities to proliferate on its platforms [3][4]. Group 2: Allegations Against Block - Specific allegations include that Block created a haven for illegal activities by imposing minimal obligations on customers, encouraging bitcoin use, and pressuring banking partners to bypass due diligence [3]. - The lawsuit claims that thousands of transactions on Square and Cash App were linked to serious illegal activities, including money laundering and terrorism financing [3]. - Block's leadership allegedly ignored numerous red flags and internal reports regarding compliance deficiencies, leading to inflated user metrics through fake accounts [3][6]. Group 3: Impact on Stock Price - Following the publication of a critical report by Hindenburg Research on March 23, 2023, Block's stock price fell nearly 15% [4]. - Subsequent disclosures of investigations by the SEC and DOJ led to further declines in stock price, with a nearly 14% drop on August 3, 2023, and over 5% on February 16, 2024 [5][6]. - A report on May 1, 2024, regarding federal investigations into compliance lapses resulted in an additional stock price decline of over 8% [7][8].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Block, Inc. regarding a class action lawsuit alleging that the company engaged in widespread compliance lapses and failed to disclose material information that led to illegal activities on its platforms [1]. Allegations Summary - Block allegedly issued materially false and misleading statements during the class period from February 26, 2020, to April 30, 2024 [1]. - The company is accused of failing to conduct due diligence on customer identities and transactions, allowing its platforms to be used for illegal activities [1]. - Specific illegal activities linked to Block's platforms include money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, and contract killings [1]. - Block reportedly allowed customers to withdraw funds even after accounts were flagged for suspicious activities [1]. - The company allegedly permitted customers to open multiple accounts using fake identities, facilitating illegal activities [1]. - Senior leadership and the Board are accused of failing to address compliance deficiencies despite numerous warnings and complaints [1]. - Block's user metrics for Cash App were allegedly inflated through the use of fake accounts [1]. - As a result of these issues, Block faced undisclosed risks that could lead to reputational harm, regulatory actions, and negative impacts on operations and financial results [1]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by March 18, 2025, to participate in potential recovery [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2]. Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].

NEW YORK, Jan. 24, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Block, Inc. ("Block" or the "Company") (NYSE: SQ) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Block investors who were adversely affected by alleged securities fraud between February 26, 2020 and April 30, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/block-inc-lawsuit-submission-form-2?prid=1246 ...

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]

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Block To Contact Him Directly To Discuss Their OptionsIf you purchased or acquired securities in Block between February 26. 2020 and April 30, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, Jan. 23, 2025 /PRNewswire/ -- Faruqi & Faruqi, L ...

NEW YORK, Jan. 23, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Block, Inc. (NYSE: SQ).Shareholders who purchased shares of SQ 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=124353&from=4CLASS PERIOD: February 26, 2020 to April 30, 2024AL ...

NEW YORK, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Block, Inc. (“Block” or “the Company”) (NYSE: SQ) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Block securities between ...

H&R Block, Inc. (NYSE: HRB ) is going to report its Q2 earnings on February 3 rd after the market closes, so I wanted to go through some numbers and what I am lookingMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time.Analyst’s Disclosure: I/we have no stock, option or s ...

The Schall Law Firm Urges Shareholders With Losses To Join A Securities Fraud Case Against Block, Inc. ...

The Consumer Financial Protection Bureau ordered Cash App owner Block to pay $175 million to address security failures.Block must refund consumers up to $120 million and pay a penalty of $55 million into the CFPB’s victims relief fund, according to a Thursday (Jan. 16) press release.“Block employed weak security protocols for Cash App and put its users at risk,” the release said. “While Block is required by law to investigate and resolve disputes about unauthorized transactions, the company’s investigations ...