NEW
YORK, June 6, 2023 /PRNewswire/ -- Hach Rose Schirripa & Cheverie, LLP has
commenced an investigation into possible breaches of fiduciary duty
and other violations of law by certain officers and directors at
Block, Inc. (NYSE: SQ) ("Block" or the "Company"). Block is a
payment processing technology company which processes business
payments through its Square payment processing ecosystem, as well
processing payments through a series of consumer-focused financial
products through the Company's Cash App ecosystem. The Company was
founded in February 2009 by former
Twitter Chief Executive Officer Jack
Dorsey.
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Hach Rose Schirripa &
Cheverie LLP's investigation is focused on whether Block's
acquisition of short-term financing company Afterpay Limited
through an exemption to the Securities and Exchange Commission's
typical registration requirement for the issuance of new securities
violated positive law. The investigation also focuses on Block's
disclosures with respect to the Cash App business and plans to
integrate Afterpay into that business, as well as compliance issues
with respect to Cash App.
On October 11, 2022, a class
action complaint was filed against Block in the Southern District
of New York, alleging violations
of the federal securities laws related to Block's acquisition of
Afterpay and failure to disclose certain material information
relevant to the fairness of the acquisition.
Hach Rose Schirripa &
Cheverie, LLP specializes in the fields of securities, corporate
governance and consumer protection litigation. The firms' attorneys
have successfully litigated complex class actions in both state and
federal courts through the United
States and are committed to protecting investors' assets and
victims of corporate wrongdoing.
If you are a current shareholder of Block common stock, plan to
continue to hold your shares, and would like more information about
your rights as a shareholder, please contact attorney Scott R. Jacobsen at (212) 213-8311 or by email
at sjacobsen@hrsclaw.com.
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SOURCE Hach Rose Schirripa &
Cheverie LLP