Jack Dorsey’s Block will disclose in its latest SEC quarterly filing that it will pay $764 million to end a federal investigation into its anti-money laundering program; the company says it reached an agreement in principle with the Justice Department in October.
The operator of Cash App will thereby resolve the investigation through a cash settlement, though the agreement is currently described as being in principle.
· Both the amount and the disclosure channel come from Block’s SEC quarterly filing; $764 million is the publicly announced settlement amount.
· “Agreement in principle” means the final terms have not yet been confirmed in the source material as signed and effective.
Would you rather follow up on the terms of the final settlement document, or on how this expense is accounted for in the quarterly filing?
The operator of Cash App will thereby resolve the investigation through a cash settlement, though the agreement is currently described as being in principle.
· Both the amount and the disclosure channel come from Block’s SEC quarterly filing; $764 million is the publicly announced settlement amount.
· “Agreement in principle” means the final terms have not yet been confirmed in the source material as signed and effective.
Would you rather follow up on the terms of the final settlement document, or on how this expense is accounted for in the quarterly filing?
