Robbins Geller intends to file a class action lawsuit against Block as the representative law firm

01/20 04:48

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law firm Robbins Geller Rudman & Dowd LLP announced that it plans to initiate a class action lawsuit against Block as the representative law firm. The lawsuit is named Gonsalves v. Block, Inc., case number 25-00642 (ND Cal.), and alleges that Block and some of its executives violated US securities laws, including Block's encouragement of the use of Bitcoin by customers seeking to open accounts, trade, and access funds by imposing minimal obligations and pressuring Block's banking partners to abandon KYC due diligence activities.

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