Block, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Block, Inc. f/k/a Square, Inc. (NYSE: SQ) resulting from allegations that Block may have issued materially misleading business information to the investing public.

If you purchased Block securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Block securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On March 23, 2023, before the market opened, market analyst Hindenburg Research released a report entitled “Block: How Inflated User Metrics and “Frictionless” Fraud Facilitation Enabled Insiders to Cash Out Over $1 Billion.” Hindenburg’s research, which took place over a two-year period and was based on “dozens of interviews with former employees, partners, and industry experts, extensive review of regulatory and litigation records” led it to conclude that the “’magic’ behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.” The report further alleged, among other things, that Block had “wildly overstated” its user accounts and provided banking services to violent criminals.

On this news, the price of Block’s stock has declined by as much as 20% in intraday trading on March 23, 2023.

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Company Name: Block, Inc.
Stock Symbol: SQ
Class Period: N/A
Court: N/A

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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