NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Block, Inc. (“Block” or the “Company”) (NYSE: SQ). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

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

[Click here for information about joining the class action]

On April 4, 2022, Block announced that on December 10, 2021, a former employee improperly downloaded certain reports from the company’s subsidiary, Cash App Investing. Information in the reports included full client names and broker account numbers, as well as brokerage portfolio value, brokerage portfolio holdings, and/or stock trading activity. Up to 8.2 million Cash App Investing customers were affected.

As a result of 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 recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980