Block Faces Shareholder Derivative Suit Following Data Breach Orchestrated by Former Employee
This suit was surfaced by Law.com Radar. Read the complaint here.
February 22, 2023 at 04:51 PM
1 minute read
Fintech company Block Inc. and its top officials were slapped with a shareholder derivative lawsuit Tuesday in relation to a data breach orchestrated by a former employee who was able to download Cash App reports containing names and account numbers for eight million customers. The court case contends that the defendants made a series of false statements regarding Block's efforts to protect its customers' information. The complaint further contends that Block lacks the adequate protocols restricting access to sensitive customer information. The suit was brought in California Northern District Court by Wolf Haldenstein Adler Freeman & Herz; Rigrodsky Law; and Rosca Scarlato LLC. Counsel have not yet appeared for the defendants. The case is 3:23-cv-00772, Lalone v. Dorsey et al.
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