NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Block, Inc. (NYSE: SQ).
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The lawsuit seeks to recover losses for shareholders who purchased Block between November 4, 2021 and April 4, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until December 12, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Block, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate protocols restricting access to customer sensitive information; (2) as a result, a former employee was able to download certain reports of the Company's subsidiary, Cash App Investing, containing full customer names and brokerage account numbers, as well as brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity; (3) as a result, the Company was reasonably likely to suffer significant damage, including reputational harm; (4) and as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law