New York, March 24 -- : Hindenburg Research has put out a report against Jack Dorsey-backed payments firm Block Inc., formerly known as Square Inc, saying a two-year investigation into the company concluded that it has "systematically taken advantage" of the demographics it claims to be helping.
Jack Dorsey, the former head of Twitter, is co-founder and CEO of Block.
"The magic behind $SQ (Block) has not been innovation, but its willingness to mislead investors, facilitate fraud, avoid regulation and dress up predatory products as revolutionary tech," Hindenburg alleged in the report, published on Thursday.
The Hindenburg report claimed its research involved dozens of interviews with former employees, partners, and industry experts, and ...