(MENAFN- Newsfile Corp) SQ LAWSUIT ALERT: Levi & Korsinsky Notifies Block, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
New York, New York--(Newsfile Corp. - March 30, 2023) - Levi & Korsinsky, LLP notifies investors in Block, Inc. ("Block" or the "Company") (NYSE: SQ) of a class action securities lawsuit.
The lawsuit on behalf of Block investors has been commenced in the the United States District Court for the Northern District of California. 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. Follow the link below to get more information and be contacted by a member of our team:
or contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500. There is no cost or obligation to you.
Block, Inc. NEWS - SQ NEWS
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) defendants did not satisfy the mandatory conditions necessary to exempt them from registration under SS3(a)(10) and permit the issuance and sale of unregistered Block Shares; (2) in violation of SSSS5(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 SS3(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 SHAREHOLDERS: If you suffered a loss in Block during the relevant timeframe, 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.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form or call 212-363-7500 to discuss the case.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
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