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Hindenburg launches attack on Afterpay parent company Block

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Short Seller Hindenburg has launched an attack on company Afterpay parent company Block after alleging the company has “wildly overstated” its user base.

Hindenburg says that Block knew many of its accounts were fraudulent but failed to account for this in its financial disclosures.

Block, led by Twitter founder Jack Dorsey, denies the allegations and says they will pursue legal action.

 

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