SQ Investors Have Opportunity to Lead Block, Inc. f/k/a Square Inc. Securities Fraud Lawsuit
BENSALEM, Pa., March 10, 2023 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Block, Inc. f/k/a Square Inc.("Block" or the "Company") (NYSE: SQ).
Class Period: November 4, 2021 – April 4, 2022
Lead Plaintiff Deadline: April 3, 2023
Investors suffering losses on their Block investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
The complaint filed alleges that the defendants made false statements and/or concealed that: (1) defendants did not satisfy the mandatory conditions necessary to exempt them from registration under Section 3(a)(10) and permit the issuance and sale of unregistered Block Shares; (2) in violation of Sections 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 "Acquisition"); (3) in order to push the Acquisition through, defendants failed to comply with Section 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 Acquisition.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
SOURCE Law Offices of Howard G. Smith
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