XYZ INVESTOR NOTICE

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    Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Block, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Class Action Lawsuit

    Robbins Geller Rudman & Dowd LLP announces that purchasers of Block, Inc. (NYSE: XYZ) Class A common stock between February 26, 2020 and April 30, 2024, both dates inclusive (the “Class Period”), have until March 18, 2025 to seek appointment as lead plaintiff of the Block class action lawsuit. Captioned Gonsalves v. Block, Inc., No. 25-00642 (N.D. Cal.), the Block class action lawsuit charges Block and certain of Block’s top executive officers with violations of the Securities Exchange Act of 1934.

    If you suffered substantial losses and wish to serve as lead plaintiff of the Block class action lawsuit, please provide your information here:

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    https://www.rgrdlaw.com/cases-block-class-action-lawsuit-sq.html

    You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.

    CASE ALLEGATIONS: Block is a financial technology conglomerate. Block’s inaugural product is Square, a financial services platform for small and medium-sized businesses. Block later launched Cash App (f/k/a “Square Cash”), a mobile payment service that allows users to transfer money using a mobile phone.

    The Block class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Block had engaged in widespread and years-long compliance lapses at Square and Cash App, including by failing to conduct basic due diligence regarding its customers’ identities or the nature of customer transactions so as to prevent the platforms from being used for illegal or illicit activities; (ii) Block had effectively created a haven for widespread illegal and illicit activities on its Square and Cash App platforms by imposing minimal obligations on customers seeking to open accounts, transact, and deposit or withdraw funds; encouraging the use of bitcoin; and pressuring Block’s banking partners to forgo ordinary know your customer due diligence activities; (iii) thousands of transactions on Square and Cash App were made in connection with a wide variety of illegal and illicit activities, including, inter alia, money laundering, child sexual abuse, sex trafficking, drug trafficking, terrorism financing, contract killings, and illicit payments to entities and persons subject to economic sanctions; (iv) Block allowed its customers to withdraw funds even after the accounts had been flagged for potentially illegal or illicit activities; (v) Block customers could open up multiple accounts using fake identities in order to engage in illegal or illicit activities; (vi) Block’s senior leadership and the Board of Directors had failed to correct identified compliance deficiencies despite numerous red flags, internal employee reports of deficiencies, and customer complaints; (vii) Block’s Cash App user metrics had been artificially inflated through the use of fake accounts and the ability of criminals and other bad actors to open multiple accounts; and (viii) as a result of the above, Block was subject to a material, undisclosed risk of its conduct being exposed, thereby exposing Block to reputational harm, adverse regulatory actions, the loss of business activity, and adverse impacts to Block’s operations and financial results.

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    XYZ INVESTOR NOTICE Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Block, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Class Action Lawsuit Robbins Geller Rudman & Dowd LLP announces that purchasers of Block, Inc. (NYSE: XYZ) Class A common stock between February 26, 2020 and April 30, 2024, both dates inclusive (the “Class Period”), have until March 18, 2025 to seek appointment as lead …