NEW YORK, March 7, 2023 /PRNewswire/ — The Klein Law Firm announced that a class action complaint has been filed on behalf of shareholders of Block, Inc. (NYSE: SQ) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons and entities who purchased or otherwise acquired Block securities during the period November 4, 2021 and April 4, 2022, including all former shareholders of Afterpay securities who acquired unregistered Block, Inc. Class A common stock (and/or corresponding SQ CHESS Depository Interests) in direct exchange for Afterpay shares pursuant to Block’s January 31, 2022 acquisition and stock-for-stock merger with Afterpay.
Lead Plaintiff Deadline: April 3, 2023
No obligation or cost to you.
Learn more about your recoverable losses in SQ:
Block, Inc. NEWS – SQ NEWS
CLASS ACTION CASE DETAILS: 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 US 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, the 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.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Block you have until April 3, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Block securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the SQ lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/block-lawsuit-loss-submission-form?id=37042&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
J. Klein, Esq.
535 Fifth Avenue
New York CityNew York 10017
Telephone: (212) 616-4899
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SOURCE The Klein Law Firm