 Contact Block stock loss lawyer Timothy L. Miles today The Block class action lawsuit seeks to represent purchasers or acquirers of Block, Inc. (NYSE: SQ) securities between November 4, 2021 and April 4, 2022, inclusive (the “Class Period”). The Block class action lawsuit – captioned Esposito v. Block, Inc., No. 22-cv-08636 (S.D.N.Y.) – charges Block and certain of its top executives with violations of the Securities Exchange Act of 1934. If you suffered losses in Block stock and wish to serve as lead plaintiff of the Block action lawsuit, please provide your information below. You can also contact Block Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Block class action lawsuit must be filed with the court no later than December 12, 2022. If you suffered losses in Block stock and have questions, please contact BlockStock Loss Lawyer Timothy L. Miles today. Allegations in the Block Class Action LawsuitBlock, formerly known as Square Inc., is a technology company that creates financial service tools. Block’s segments include Square, which offers financial tools for sellers, and Cash App, which provides financial tools for individuals.The Block class action lawsuit alleges that defendants throughout the Class Period failed to disclose that: (i) Block lacked adequate protocols restricting access to customer sensitive information; (ii) as a result, a former employee was able to download certain reports of Block’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; and (iii) consequently, Block was reasonably likely to suffer significant damage, including reputational harm. The Block class action lawsuit alleges that defendants throughout the Class Period failed to disclose that: (i) Block lacked adequate protocols restricting access to customer sensitive information; (ii) as a result, a former employee was able to download certain reports of Block’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; and (iii) consequently, Block was reasonably likely to suffer significant damage, including reputational harm. On April 4, 2022, Block announced that a former employee had improperly downloaded certain reports of Block’s subsidiary, Cash App Investing, on December 10, 2021. The information in the reports included full customer names and brokerage account numbers, as well as brokerage portfolio value, brokerage portfolio holdings, and/or stock trading activity. As many as 8.2 million Cash App Investing customers were affected. Prior to April 4, 2022, Block had not disclosed this information to shareholders. On this news, Block’s stock price fell by more than 6%, damaging investors who suffered losses in Block stock. The Lead Plaintiff ProcessThe Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Block stock to seek appointment as lead plaintiff in the Block class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Block stock, and have further questions, contact Block Stock Loss Lawyer Timothy L. Miles today who will fight to recover your damages. How Can a Block Stock Loss Lawyer Help Me?A Block Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. A Block Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as a Block Stock Loss Lawyer who will work to recover the losses you sustained through a Block Class Action lawsuit. Contact a Block Stock Loss Lawyer if You Suffered Losses in Block StockIf you suffered losses in Block stock, contact Block stock loss lawyer Timothy L. Miles today about a Block class action lawsuit, and see what a Block Stock Loss Lawyer can do for you. We take all cases on a contingency basis which means we do not get paid unless we win your case. Timothy L. Miles, Esq. |
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