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Block Shares Crash 20% After Short Seller Alleges Fraud

By
Ann Gehan
· · Source: The Information

Shares of Jack Dorsey’s Block fell nearly 20% on Thursday, after short seller Hindenburg Research claimed that the company’s Cash App business inflated its number of monthly active users and took a lax approach to identifying and regulating fraudulent activity on the platform. The report, which cited interviews with former employees, screenshots and public information requests, alleged that...

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