Trending...
- California: Three years after the end of Roe, Governor Newsom, First Partner sound the alarm on Trump's "Big, Beautiful" plan to defund Planned Parenthood - 121
- Ascent Solar Technologies Enters Collaborative Agreement Notice with NASA to Advance Development of Thin-Film PV Power Beaming Capabilities: ASTI - 103
- California awards over $15 million to apprenticeship programs connecting youth to high-paying jobs
LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Block, Inc. ("Block" or the "Company") (NYSE: SQ) investors concerning the Company's possible violations of the federal securities laws.
If you suffered a loss on your Block investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/block-inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On March 23, 2023, Hindenburg Research published a report (the "Report") alleging that "Block has systematically taken advantage of the demographics it claims to be helping" and that the Company has demonstrated a "willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics." The Report also alleges that Block "has wildly overstated its genuine user counts and has understated its customer acquisition costs" and that Block's approach to compliance "made it easy for bad actors to mass-create accounts for identity fraud and other scams, then extract stolen funds quickly."
More on The Californer
On this news, Block's share price fell $10.77, or 14.8%, to close at $61.88 per share on March 23, 2023, thereby injuring investors.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice: Persons with non-public information regarding Block should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About GPM
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
More on The Californer
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com
shareholders@glancylaw.com
If you suffered a loss on your Block investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/block-inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On March 23, 2023, Hindenburg Research published a report (the "Report") alleging that "Block has systematically taken advantage of the demographics it claims to be helping" and that the Company has demonstrated a "willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics." The Report also alleges that Block "has wildly overstated its genuine user counts and has understated its customer acquisition costs" and that Block's approach to compliance "made it easy for bad actors to mass-create accounts for identity fraud and other scams, then extract stolen funds quickly."
More on The Californer
- California: Governor Newsom proclaims Immigrant Heritage Month 2025
- California: Department of Defense agrees: it's time for Trump's militarization of Los Angeles to end
- Long Beach: City Launches Internet Service Enrollment Line
- Von Rock Law Founder Deidre Von Rock Named Super Lawyer for 2025
- California: Governor Newsom extends emergency short-term housing protections in Los Angeles
On this news, Block's share price fell $10.77, or 14.8%, to close at $61.88 per share on March 23, 2023, thereby injuring investors.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice: Persons with non-public information regarding Block should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About GPM
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
More on The Californer
- Von Rock Law Named SFGate's Best Probate and Estate Attorney in 2025
- Long Beach to Conduct Annual Summer Recess for City Council Meetings During July
- Plan to Launch Silo Technologies' Cybersecurity Pilot Program for Ultimate Nationwide Deployment via Exclusive Partnership: Stock Symbol: BULT
- Robert Michael & Co. Real Estate Team Celebrates Industry Recognition and Showcases Premier Central Florida Listings
- Montessori Stoppani Partners with Lifetime Montessori School
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com
shareholders@glancylaw.com
Filed Under: Business
0 Comments
Latest on The Californer
- Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
- Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
- Psychologist-Turned-Hermeticist Releases Modern Guide to the Seven Hermetic Principles
- Winners Announced for Asia Pacific Business Awards 2024-2025
- Hamvay-Lang and Lampone.hu Join Forces with AIMarketingugynokseg.hu to Elevate Hungarian Lifestyle Brands on the Global Stage
- Google AI Quietly Corrects the Record on Republic of Aquitaine's Legal Sovereignty
- California: El Gobernador Newsom firma un presupuesto estatal equilibrado que reduce los impuestos a los veteranos, financia completamente las comidas escolares gratuitas, construye más viviendas y crea empleos
- California: Governor Newsom signs balanced state budget that cuts taxes for vets, fully funds free school meals, builds more housing, & creates jobs
- California: Governor Newsom announces appointments 6.27.25
- NYC Leadership Strategist Stacie Selise Launches Groundbreaking 4S Framework Series to Redefine Executive Excellence
- Baby Boomer Housing Trend: Big Homes Out, Simplicity In
- Governor Newsom slams Trump over bill that would cut millions in health coverage, food assistance for California
- Jamison & Tania Events Wins Dual California Wedding Day Magazine "Best of 2025" Awards
- California invests billions of dollars to fix roads with "gas tax," expand bus and train service
- Long Beach: City Offering Space Beach Youth Workforce Summer Camp to Inspire Next Generation of Aerospace Professionals
- Make Innovation Matter: Support H.R.1's R&D Expensing Relief for American Small Businesses
- California: Governor Newsom statement on nationwide injunctions
- City of Long Beach Facilities and Services Schedule for Independence Day
- Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI)
- Introducing The AI Bleederboard™