Bronstein, Gewirtz & Grossman, LLC Announces Class Action Lawsuit Against Block, Inc.
On March 4, 2025, Bronstein, Gewirtz & Grossman, LLC, a leading national securities fraud law firm, announced the filing of a class action lawsuit against Block, Inc. (“Block” or “the Company”) (NYSE:SQ) and certain of its officers. The lawsuit alleges that the Company and its officers violated the federal securities laws during the Class Period, which spans from February 26, 2020, to April 30, 2024.
Class Definition and Allegations
The lawsuit seeks to recover damages on behalf of all persons and entities that purchased or otherwise acquired Block securities during the Class Period. The complaint alleges that the Defendants made false and misleading statements and failed to disclose material information regarding the Company’s business, operations, and financial condition.
Specifically, the complaint alleges that the Defendants made materially false and misleading statements regarding the Company’s revenue growth, user growth, and the impact of regulatory scrutiny on its business. The complaint also alleges that the Defendants failed to disclose material information regarding the Company’s business relationships and regulatory compliance.
Impact on Individual Investors
If you purchased or otherwise acquired Block securities during the Class Period, you may be eligible to participate in the class action lawsuit. The damages claimed in the lawsuit include compensatory damages, punitive damages, and attorneys’ fees and expenses. If the lawsuit is successful, you may be entitled to share in the recovery.
Impact on the World
The impact of this lawsuit on the financial markets and the world at large could be significant. Block is a leading technology company in the digital payments industry, and its stock is widely held by individual investors and institutional investors. The outcome of this lawsuit could result in increased regulatory scrutiny of the digital payments industry and potentially impact investor confidence in technology companies.
Additionally, if the lawsuit is successful, it could lead to increased litigation against other technology companies in the industry, potentially leading to increased costs and uncertainty for these companies and their investors.
Conclusion
The filing of a class action lawsuit against Block, Inc. and certain of its officers alleging securities law violations during the Class Period is a significant development for investors in the Company’s securities. If you purchased or otherwise acquired Block securities during the Class Period, you may be eligible to participate in the lawsuit. The outcome of this lawsuit could have far-reaching implications for the digital payments industry and the broader financial markets.
For more information about the lawsuit, please contact Bronstein, Gewirtz & Grossman, LLC. The firm represents investors in securities fraud class actions and other complex litigation.
- Bronstein, Gewirtz & Grossman, LLC
- 535 8th Avenue, 20th Floor
- New York, NY 10018
- 212-697-6484
- [email protected]
