Block, formerly known as Square Inc., intends to work with the Securities and Exchange Commission “and explore legal action against Hindenburg Research for the factually inaccurate and misleading report they shared about our Cash App business today,” the company said in a statement. “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.”
Source: Block (SQ) Stock Drops on Hindenburg Short Report It Vows to Fight – Bloomberg
