SAN DIEGO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of the following companies. Investors are encouraged to submit their information to Johnson Fistel if they are interested in being appointed as Lead Plaintiff.
Atlassian Corporation (NASDAQ: TEAM)
Class Period: August 5, 2022 – November 3, 2022
Lead Plaintiff Deadline: April 4, 2023
The Class Action alleges that, during the Class Period, Defendants misled investors and/or failed to disclose that (1) macroeconomic factors were having a material adverse impact on Atlassian’s business; (2) the slowing conversions from free to paid customers the Company was experiencing constituted a negative trend; (3) paid user growth also had slowed; and (4) as a result, Defendants’ positive statements about the Company’s financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To join this action, you can click or copy and paste the link below into a browser:
https://www.johnsonfistel.com/investigations/atlassian-corporation
There is no cost or obligation to you.
Block, Inc. (NYSE: SQ)
Class Period: November 4, 2021 and April 4, 2022 (including former shareholders of Afterpay securities who acquired unregistered Block, Inc.)
Lead Plaintiff Deadline: April 3, 2023
According to the complaint, on January 31, 2022, Block completed its acquisition of Afterpay, then an Australian limited company listed on the Australian Stock Exchange, pursuant to a scheme of arrangement under Australia’s Corporations Act 2001 (the “Scheme”). Pursuant to the financial terms of the Scheme, Block acquired all outstanding ordinary shares of Afterpay in exchange for 0.375 of a share of newly issued SQ class A common stock or corresponding SQ CDI. Block represented to the Afterpay shareholders that the "Square securities issued in the proposed transaction are anticipated to be issued in reliance upon an available exemption from … registration requirements pursuant to Section 3(a)(10) of the Securities Act." In connection with the Merger, Block offered and sold approximately 113 million unregistered Block shares directly to former Afterpay shareholder. But contrary to their representation to Afterpay’s Board and shareholders, defendants did not satisfy the mandatory conditions necessary to exempt them from registration under §3(a)(10) and permit the issuance and sale of unregistered Block Shares. Nevertheless, and in violation of §§5(a) and (c) of the Securities Act, no registration statement has been filed with the SEC or been in effect with respect to these Block Shares issued, solicited, and sold by means of the Merger.
To join this action, you can click or copy and paste the link below into a browser:
https://www.johnsonfistel.com/investigations/block-inc
There is no cost or obligation to you.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuits. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuits. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
