Block, Inc. Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Block, Inc. (NYSE: SQ) who purchased shares between November 4, 2021 and April 4, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.

In particular, the Block lawsuit alleges that (1) the Company lacked adequate protocols restricting access to customer sensitive information; (2) as a result, a former employee was able to download certain reports of the Company’s subsidiary, Cash App Investing, containing full customer names and brokerage account numbers, as well as brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity; (3) as a result, the Company was reasonably likely to suffer significant damage, including reputational harm; (4) and as a result of the foregoing, defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Shareholders have until December 12, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

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