Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces a securities class action lawsuit has been filed against Block, Inc. ("Block" or "the Company") (NYSE:SQ) for violations of ยงยง10(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 November 4, 2021 and April 4, 2022, inclusive (the "Class Period"), are encouraged to contact the firm before December 12, 2022.
According to the Complaint, the Company made false and misleading statements to the market. Block failed to maintain adequate protocols protecting customers' sensitive data from employees. Due to this failure, a former Company employee was able to download reports including sensitive customer data such as stock trading activity. The Company was likely to suffer reputational harm after this data breach. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Block, investors suffered damages.
If you currently own stock or options in Block Inc. and suffered a loss, click here to participate.
If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
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Contacts
David J. Schwartz
(800) 321-0476
david@labaton.com
