Block, Inc. Class Action Lawsuit - SQ

The filed complaint alleges that Block, Inc. made materially false and/or misleading statements and/or failed to disclose that:

(1) defendants did not satisfy the mandatory conditions necessary to exempt them from registration under §3(a)(10) and permit the issuance and sale of unregistered Block Shares; (2) in violation of §§5(a) and (c) of the Securities Act, no registration statement has been filed with the U.S. Securities and Exchange Commission or been in effect with respect to these Block Shares issued, solicited, and sold by means of Block’s January 31, 2022 acquisition and stock-for-stock merger with Afterpay (the “Merger” or “Acquisition”); (3) in order to push the Acquisition through, defendants failed to comply with §3(a)(10)’s mandatory preconditions in several respects; and (4) defendants’ grossly negligent failures deprived the Supreme Court of New South Wales (“NSW Court”) of critical information necessary for any genuine appraisal of the Merger’s supposed “fairness,” and furthermore deprived plaintiff and other Afterpay shareholders of their statutory right to appear and present to the NSW Court the host of serious concerns and material (yet undisclosed) information ahead of the Merger.

In order to be eligible to join the SQ class action lawsuit, you must have incurred a loss on shares of Block purchased during the class period listed above.

If you suffered a loss in Block during the relevant time frame or pursuant to the relevant offering(s), you have until April 3, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.