NEW YORK, May 27, 2023 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Block, Inc. f/k/a Square, Inc.  (“Block” or the “Company”) (NYSE: SQ).

If you suffered losses exceeding $50,000 investing in Block stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/SQ.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

On March 23, 2023, Hindenburg issued a report entitled “Block: How Inflated User Metrics and ‘Frictionless’ Fraud Facilitation Enabled Insiders to Cash Out Over $1 Billion.” Hindenburg stated, “Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping.” The report also said Block’s Cash App thrived on serving “unbanked” customers. The report also alleged those unbanked customers were involved in criminal or illicit activity. Hindenburg also suspected that Cash App’s compliance programs were deficient. Finally, among additional allegations, Hindenburg stated “Block has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual.”

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).  Prior results do not guarantee or predict a similar outcome with respect to any future matter.  We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential manner.

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NEW YORK, May 27, 2023 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Chinook Therapeutics, Inc. (“Chinook” or the “Company”) (NASDAQ: KDNY).

If you suffered losses exceeding $50,000 investing in Chinook stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/KDNY.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

The investigation focuses on Chinook’s statements related to the commercial prospects for its lead product candidate (atrasentan), which is under development, to treat patients with kidney disease.

As recently as April 25, 2023, Chinook assured investors that “we believe that we have developed what we think is one of the leading pipelines targeting kidney disease […] that’s really led by our — our most advanced program, which is called atrasentan […] that we in-licensed from AbbVie a few years ago.”

But on May 16, 2023, Muddy Waters Capital published a report concluding: (1) the FDA is unlikely to approve atrasentan; (2) “atrasentan is inefficacious for chronic kidney disease”; (3) “atrasentan has been shown to be harmful to patients’ cardiovascular health”; and (4) “AbbVie and Chinook seem to have systematically manipulated research findings and presentation on atrasentan to obscure these trial results.”

In response, the price of Chinook shares fell sharply lower during intraday trading on May 16, 2023.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE Faruqi & Faruqi, LLP