SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Block, Inc. - SQ

Published: Nov. 21, 2022 at 9:15 PM CST

NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Block, Inc. ("Block" or the "Company") (NYSE: SQ). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

Fighting for victims of securities fraud for more than 85 years (PRNewsfoto/Pomerantz LLP)
Fighting for victims of securities fraud for more than 85 years (PRNewsfoto/Pomerantz LLP)(PRNewswire)

The investigation concerns whether Block and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

On April 4, 2022, Block announced that a former employee had improperly downloaded certain reports of the Company's subsidiary, Cash App Investing, on December 10, 2021. The information in the reports included full customer names and brokerage account numbers, as well as brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity. As many as 8.2 million Cash App Investing customers were affected.

On this news, Block's stock price fell $9.27 per share, or 6.4%, to close at $135.92 per share on April 5, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP

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