SQ LOSS ALERT: ROSEN, A TRUSTED AND LEADING LAW FIRM, Encourages Block, Inc. Investors to Inquire About Securities Class Action Investigation – SQ

NEW YORK, May 11, 2024 /PRNewswire/ — WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation into potential securities claims on behalf of Block, Inc. (NYSE: SQ) shareholders arising from allegations that Block may have disclosed materially misleading business information to the investing public .

SO WHAT: If you purchased Block Securities you may be entitled to compensation without payment of any out of pocket fees or costs under a contingency fee arrangement. Rosen Law Firm is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=24974 or call Phillip Kim, Esq. at. Call us toll-free at 866-767-3653 or email [email protected] for class action information.

WHAT IS THIS ABOUT: On February 16, 2024, before the market opens, NBC News published an article titled “Federal regulators examine whether Cash App is leaving the door open to money launderers and terrorists,” which stated in part: “Federal financial regulators are investigating allegations from two whistleblowers that Cash App, the popular mobile payment platform, and… Companies that offer transaction services to their users have failed to properly vet their customers, potentially opening the door to money laundering, terrorist financing and other illegal activities.”

On this news, Block stock fell $3.84, or 5%, to close at $65.64 per share on February 16, 2024.

On May 1, 2024, before the market opens, NBC News published another article titled “Federal prosecutors investigate financial transactions at Block, owner of Cash App and Square: Internal documents suggest Block processed crypto transactions for terrorist groups and Square processed transactions with countries subject to economic sanctions.” That article states It states, among other things, that “Federal prosecutors are investigating Block’s internal practices… and discussing with a former employee alleged widespread and years-long compliance violations at the company’s two main units, Square and Cash App (.)”

On this news, Block’s stock fell $6.16, or 8%, to close at 66.84 per share on May 1, 2024.

WHY ROSEN LAW: We encourage investors to select qualified advisors who have a track record of success in leadership roles. Companies issuing notices often do not have comparable experience, resources, or significant peer recognition. Many of these firms do not conduct securities class actions. Be wise when choosing your advisor. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest settlement ever in a securities class action lawsuit against a Chinese company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services in 2017 for number of securities class action settlements. The firm has been ranked in the top four every year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named a Titan of Plaintiffs’ Bar by law360. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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Contact information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, PA
275 Madison Avenue, 40th floor
New York, NY 10016
Phone: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

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SOURCE: THE ROSEN LAW FIRM, PA