Block Agrees $45M Cash App Settlement as Director Sells $1.4M Shares
XYZ•Block agreed to pay a $45 million settlement to 46 states over alleged Cash App compliance failures and will upgrade its fraud monitoring and customer service operations. Anthony Eisen sold 18,000 shares for $1.4 million under a Rule 10b5-1 plan executed July 6–8.
1. $45M Settlement on Cash App Compliance Failures
Block reached a $45 million settlement with 46 US states over allegations that Cash App lacked adequate fraud prevention and customer support measures. As part of the agreement, the company committed to bolster its transaction monitoring systems and enhance staffing and training in its customer service operations.
2. Director Eisen's $1.4M Share Sale
Board member Anthony Eisen executed a Rule 10b5-1 trading plan to sell 18,000 shares between July 6 and 8 for approximately $1.4 million at a weighted average price of $78.31. Eisen retains about 1.9 million shares valued near $142.1 million, with the sale coinciding with Block’s strong Q1 results and a 12.84% one-year stock gain.
