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Robbins Geller intends to initiate a class action lawsuit against Block as the lead counsel
Golden Finance reported that law firm Robbins Geller Rudman & Dowd LLP announced its intention to file 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 certain executives violated U.S. securities laws, including Block's minimal obligations imposed on customers seeking to open accounts, trade and access funds, encouraging the use of BTC and pressuring Block's banking partners to abandon KYC due diligence activities.