XYZ (Formerly SQ) Investors Have Opportunity to Lead Block, Inc. Securities Fraud Lawsuit with the Schall Law Firm

The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Block, Inc. (“Block” or “the Company”) (NYSE: XYZ) (NYSE: SQ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 26, 2020 and April 30, 2024, inclusive (the “Class Period”), are encouraged to contact the firm before March 18, 2025.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Block engaged in widespread compliance lapses at Square and Cash App over multiple years. The Company created a haven for illegal activity on its platforms by forgoing typical know your customer due diligence. The Company’s platforms were used for illegal activities including money laundering and financing child sexual abuse and sex trafficking, among other heinous crimes. The Company allowed customers to withdraw funds from accounts flagged for illegal activity. The Company artificially inflated its metrics through the use of fake accounts and allowing criminals to open multiple accounts. When the market learned the truth about Block, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250305774530/en/