Pomerantz Law Firm alerts shareholders about class action lawsuit against Block, Inc.

On January 28, 2025, Pomerantz LLP made an announcement regarding a class action lawsuit that was filed against Block, Inc. The company, listed on the New York Stock Exchange as SQ, is the subject of this legal action.

The lawsuit was filed on behalf of investors who purchased Block securities between the specified class period, which begins on November 6, 2020, and ends on July 29, 2022. The lawsuit alleges that Block made false and misleading statements to investors during this timeframe.

According to the complaint, Block engaged in deceptive practices related to its Cash App, a platform that allows users to buy and sell Bitcoin. The lawsuit claims that the company misrepresented its risk management practices and falsely assured users that their Bitcoin transactions were secure.

The lawsuit also alleges that Block failed to disclose significant issues with its risk controls and compliance processes, which ultimately led to regulatory scrutiny and legal challenges. This lack of transparency reportedly caused Block’s stock price to drop significantly when the truth came to light.

Investors who suffered financial losses as a result of Block’s alleged misconduct are encouraged to participate in the class action lawsuit. By doing so, they may be able to recover some of their losses as part of a potential settlement.

As more details emerge regarding this legal action, it will be important for investors to stay informed about any developments. Keeping abreast of the latest news surrounding Block and the class action lawsuit can help affected individuals make informed decisions about their legal options.

Overall, the class action lawsuit against Block, Inc. serves as a reminder of the importance of transparency and accountability in the financial sector. Investors rely on companies to provide accurate and truthful information about their operations, and when that trust is violated, legal action may be necessary to hold companies accountable for their actions.