Investors Urged to Join Class Action Against Block, Inc. Over Securities Fraud Claims

Investors Take Note: Class Action Against Block, Inc.

Investors in Block, Inc. (NYSE: SQ) have an important opportunity to join a class action lawsuit against the company due to alleged securities fraud. The Rosen Law Firm, which specializes in protecting client rights, is actively seeking investors who purchased Class A common stock from February 26, 2020, to April 30, 2024. The deadline to move for lead plaintiff status is March 18, 2025.

Why This Matters

If you bought Block, Inc. shares within the specified period, you could be entitled to compensation without incurring any out-of-pocket expenses thanks to a contingency fee arrangement. This means you don’t have to pay lawyers unless the case is successful, making it an appealing option for affected investors.

How to Join the Class Action

Interested investors can take immediate action by visiting Rosen Law Firm's site or reaching out to Phillip Kim, Esq. at 866-767-3653. You can also send an email to [email protected] for any inquiries regarding the case. It is crucial to understand that a class has not yet been certified, so if you wish to be represented, you need to retain counsel.

Background of the Allegations

The class action lawsuit alleges that Block, Inc. and its executives engaged in a series of misleading practices that violated investor trust and regulatory standards. Key claims include that Block neglected compliance measures for its payment platforms, Square and Cash App, resulting in substantial illegitimate activities being conducted via their services. This included a lack of due diligence in verifying customer identities, which supposedly facilitated money laundering, drug trafficking, and other illicit operations.

Additionally, the complaint notes that Block allowed account holders to continue withdrawing funds, even after such accounts had been flagged for dubious activities. Serious concerns were raised about the company's internal governance, as it appears that senior leadership had been alerted to various compliance issues yet failed to address them adequately. Overall, the lawsuit claims that these violations exposed investors to significant liabilities without their knowledge, leading to often devastating financial consequences.

Legal Standing and Next Steps

For anyone who purchased Block, Inc. shares, the time to act is now. By becoming a lead plaintiff, you can play a part in directing the litigation process and potentially recover losses incurred due to these alleged fraudulent actions. However, you have options: you can select your counsel or choose to remain an absent class member. It's also worth noting that an investor's ability to participate in any future settlement does not require them to be a lead plaintiff; any affected shareholder may benefit.

The Reputation of Rosen Law

The Rosen Law Firm is noted for its successful handling of securities class actions. In 2017, the firm was recognized for its substantial number of settlements and has recovered hundreds of millions for investors over the years. They maintain a strong focus on the interests of their clients, and many of their lawyers have received accolades for their work in this challenging field.

For updates and more information, follow the Rosen Law Firm on LinkedIn, Twitter, and Facebook.

Conclusion

In summary, if you have purchased Block, Inc. stock within the specified timeline, do not miss this chance to potentially claim compensation for your losses. Join the class action and make your voice heard in the fight for accountability and justice in the financial markets.