#United States #New York #Class Action #Levi Korsinsky #Block Inc

Levi & Korsinsky Alerts Block, Inc. Investors

In a significant development, Levi & Korsinsky, LLP has notified shareholders of Block, Inc. (NYSE: SQ) regarding a class action securities lawsuit. Encompassing a critical timeframe from February 26, 2020, to April 30, 2024, the lawsuit aims to recuperate losses for investors adversely impacted by alleged securities fraud associated with the company.

Background of the Class Action

The dismissal of various allegations has created a climate of uncertainty for Block's investors. The filed complaint suggests that the defendants made numerous false assertions or failed to disclose essential facts about the company’s operations. Specifically, it is claimed that Block experienced extensive compliance failures across its platforms, Square and Cash App. Such failures included a lack of due diligence in verifying customer identities and transactions, which allegedly allowed the platforms to become channels for illegal activities.

The details of the allegations include serious charges relating to money laundering, sex trafficking, and terrorism financing. The complaint contends that Block inadequately controlled its platforms, thereby allowing customers to engage in various illicit activities with minimal scrutiny. Reports suggested that the company actively encouraged the use of cryptocurrency, exerting pressure on banking partners to bypass essential customer verification processes.

Additionally, the complaint alleges that customers could easily open multiple accounts using fraudulent identities, further compounding the compliance issues. Despite indications of a problematic operating environment and multiple internal reports of compliance-related deficiencies, Block's senior management seemingly overlooked these red flags.

Investor Information

For those who have suffered losses during the specified period, the law firm underscores the importance of a timely response. March 18, 2025, marks the deadline for investors to petition the Court to appoint them as lead plaintiffs. However, it is important to note that participating as a lead plaintiff is not a prerequisite for receiving any potential compensation.

Levi & Korsinsky underscores that participation in this lawsuit will not incur any direct costs or fees for the class members. Investors with inquiries can reach out to Joseph E. Levi, Esq. by phone or via email. The firm provides a dedicated team that specializes in complex securities litigation and has successfully advocated for investors for over two decades.

A Firm with Proven Expertise

Over the years, Levi & Korsinsky has established a formidable reputation in securities litigation. Their record includes recovering hundreds of millions of dollars for aggrieved shareholders and consistently ranking among the top securities litigation firms across the United States. With a team of more than 70 professionals, the firm possesses extensive expertise and resources to support its clients.

As the lawsuit progresses, investors are encouraged to stay informed and consider their legal options. Those potentially affected by the alleged misconduct at Block, Inc. are urged to take proactive measures to safeguard their interests as this class action gears up for its next steps.

For additional details or to submit your claim, kindly contact Levi & Korsinsky, LLP at their office located at 33 Whitehall Street, 17th Floor, New York, NY 10004, or through their official website.