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Tax Preparer H&R Block Sues Block Over Rebranding From Square
The Jack Dorsey-run payments giant is infringing on the accounting firm’s family of trademarks, H&R Block claims.
What’s in a name? In this case, a lawsuit.
Fintech and digital payments giant Block, Inc., formerly known as Square, is being sued by tax preparation services company H&R Block for trademark infringement.
STORY CONTINUES BELOW
- Earlier this month, Square announced changing its name to Block to reflect changes to its business. The step may also be signaling the firm’s significant crypto ambitions.
- On Thursday, H&R Block said it has filed a lawsuit against the Jack Dorsey-run Block, arguing that “the goodwill and brand identity that [H&R] Block has carefully cultivated and nurtured over the last 65 years is under attack by the Silicon Valley fintech company.”
- H&R Block noted this new Block is a competitor in several financial services areas, including tax preparation via Block’s recent purchase of Credit Karma Tax, now called Cash App Taxes.
- “Today’s filing is an important effort to prevent consumer confusion and ensure a competitor cannot leverage the reputation and trust we have built over more than six decades,” said H&R Block CEO Jeff Jones.
- The complaint was filed in the U.S. District Court for the Western District of Missouri.
- Shares of Block were down 5.3% to $164.91 in trading Thursday.
- Block did not immediately respond to CoinDesk’s request for comment on the lawsuit.
Read more: Jack Dorsey Takes Square Deep Down the Bitcoin Rabbit Hole
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
