BLOCK SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Block, Inc. - SQ

BLOCK SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Block, Inc. – SQ

BY Miguel Borges
January 22, 2025
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NEW ORLEANS-Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 18, 2025 to file lead plaintiff applications in a securities class action lawsuit against Block, Inc. (the “Company”) (NYSE: SQ), if they purchased the Company’s Class A common stock between February 26, 2020 and April 30, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.

What You May Do

If you purchased shares of Block and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-sq/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 18, 2025.

About the Lawsuit

Block and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 1, 2024, NBC News reported that federal prosecutors were investigating the Company due to allegations by a former employee that it had engaged in wide-ranging compliance lapses at its two main units, Square and Cash App and that the employee had provided prosecutors with internal documents demonstrating that Block had failed to conduct basic due diligence on its customers, that Square had processed thousands of transactions involving countries subject to economic sanctions (including Cuba, Iran, Russia, and Venezuela), and that Block had processed multiple cryptocurrency transactions for terrorist groups.

On this news, the price of Block’s Class A common stock fell over 8%, from a closing price of $73 per share on April 30, 2024, to $66.84 per share at market close on May 1, 2024.

The case is Gonsalves v. Block, Inc., No. 25-00642.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.