Block's Response to Inaccurate Short Seller Report
March 23 2023 - 01:33PM
Business Wire
We intend to work with the SEC and explore legal action against
Hindenburg Research for the factually inaccurate and misleading
report they shared about our Cash App business today.
Hindenburg is known for these types of attacks, which are
designed solely to allow short sellers to profit from a declined
stock price. We have reviewed the full report in the context of our
own data and believe it’s designed to deceive and confuse
investors.
We are a highly regulated public company with regular
disclosures, and are confident in our products, reporting,
compliance programs, and controls. We will not be distracted by
typical short seller tactics.
About Block
Block, Inc. (NYSE: SQ) is a global technology company with a
focus on financial services. Made up of Square, Cash App, Spiral,
TIDAL, and TBD, we build tools to help more people access the
economy. Square helps sellers run and grow their businesses with
its integrated ecosystem of commerce solutions, business software,
and banking services. With Cash App, anyone can easily send, spend,
or invest their money in stocks or Bitcoin. Spiral builds and funds
free, open-source Bitcoin projects. Artists use TIDAL to help them
succeed as entrepreneurs and connect more deeply with fans. TBD is
building an open developer platform to make it easier to access
Bitcoin and other blockchain technologies without having to go
through an institution.
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