#USA #New York #Securities Fraud #Rosen Law #Block Inc

Investors of Block, Inc. Urged to Take Action Against Alleged Securities Fraud

The global investor rights law firm, Rosen Law Firm, has issued a reminder to shareholders of Block, Inc. (NYSE: SQ, XYZ) regarding serious allegations of securities fraud. Investors who purchased Class A common stock during the period of February 26, 2020, to April 30, 2024, have until March 18, 2025, to become lead plaintiffs in a class action lawsuit. The firm’s notice aims to inform shareholders about their rights and the upcoming deadline for potential legal action.

Rosen Law Firm emphasizes that investors might be entitled to compensation without any upfront legal fees, as the firm operates on a contingency fee basis. This means that investors can join the lawsuit without bearing the cost until the case is resolved favorably. Participants can join the class action via the firm’s website or by contacting Phillip Kim, Esq. for more information.

Background Information on Block, Inc.

The lawsuit centers around claims that Block, Inc., which operates platforms like Square and Cash App, failed to disclose critical compliance lapses. According to court filings, these shortcomings allowed illegal activities, including money laundering, drug trafficking, and other crimes, to proliferate on its platforms. The suit alleges that the company's senior leadership neglected their duties, thus allowing these serious legal violations to occur.

The core of the accusations includes claims that:
1. Block had long-standing compliance issues that were not addressed.
2. The company encouraged illicit activities by failing to perform basic due diligence on customer identities and transactions.
3. Thousands of transactions linked to illegal activities occurred on their platforms, raising significant ethical and legal concerns.
4. Customers could open multiple accounts using false identities without detection, enabling further illicit activities.
5. Senior management ignored numerous warnings and complaints regarding these compliance failures, leading to substantial risks for the company.

The implications for investors are profound, as the lawsuit alleges that the mismanagement and lack of transparency led to financial damages for shareholders. When the true extent of the issues became public, the subsequent impact on Block's stock price raised alarms among investors who felt misled about the company's operational integrity.

How to Join the Class Action

Those interested in participating in the lawsuit are encouraged to act quickly. To become part of the action, interested shareholders can follow these steps:

• - Visit the Rosen Law Firm's dedicated page and fill out the submission form.
• - Directly contact Phillip Kim, Esq., at 866-767-3653 for further queries or concerns.
• - Alternatively, those wanting to manage their legal representation can do so independently; however, they must retain a suitable legal team before class certification begins.

Importance of Selecting Qualified Legal Counsel

Rosen Law Firm urges investors to choose qualified legal representation with a proven track record in securities class actions. The firm has consistently ranked as one of the top firms representing investors, having secured notable settlements. Shareholders should be cautious of firms that might act merely as intermediaries lacking substantial courtroom experience.

With a history of success, including a significant settlement against a Chinese company and millions recovered in previous cases, Rosen Law Firm positions itself as an advocate for investors seeking justice.

Conclusion

Investors in Block, Inc. are urged to take immediate action if they fall within the specified class period. The impending lead plaintiff deadline of March 18, 2025, is crucial for those seeking to assert their rights in this significant securities fraud case. Failure to act could mean missing out on potential compensation for damages incurred as a result of the alleged misconduct by Block’s management. Stay informed by following updates on LinkedIn and Twitter, and ensure you are well-represented in the legal proceedings that follow.