Block, Inc. (NYSE: XYZ, formerly NYSE: SQ) Investor Alert: Deadline in Lawsuit on March 18, 2025

A deadline is coming up on March 18, 2025 in the lawsuit filed for certain investors of Block, Inc. (NYSE: XYZ, formerly NYSE: SQ) over alleged securities laws violations by Block, Inc. (NYSE: XYZ, formerly NYSE: SQ).

Investors who purchased shares of Block, Inc. (NYSE: XYZ, formerly NYSE: SQ) have certain options and there are strict and short deadlines running. Deadline: March 18, 2025. Block, Inc. (NYSE: XYZ, formerly NYSE: SQ) stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of purchasers of Block, Inc. (NYSE: XYZ, formerly NYSE: SQ) common shares between February 26, 2020 and April 30, 2024, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 26, 2020 and April 30, 2024, the defendants 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, 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, that 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 Block's banking partners to forgo ordinary know your customer due diligence activities, that 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, that Block allowed its customers to withdraw funds even after the accounts had been flagged for potentially illegal or illicit activities; (v) Block customers could open up multiple accounts using fake identities in order to engage in illegal or illicit activities, that Block's senior leadership and the Board of Directors had failed to correct identified compliance deficiencies despite numerous red flags, internal employee reports of deficiencies, and customer complaints, that 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 that as a result of the above, Block was subject to a material, undisclosed risk of its conduct being exposed, thereby exposing Block to reputational harm, adverse regulatory actions, the loss of business activity, and adverse impacts to Block's operations and financial results.

Those who purchased shares of Block, Inc. (NYSE: XYZ, formerly NYSE: SQ) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.