Block's purchase of Tidal: By 2020, Tidal had signed up 2.1 million paying subscribers, compared with Spotify's 138 million, Apple Music's 60 million and Amazon Music's 55 million. A Delaware judge dismissed a shareholder class action seeking to hold Jack Dorsey and other board members at Block liable for approving the $306 million purchase of Jay-Z's streaming service Tidal. Chancellor Kathaleen McCormick in Delaware Chancery Court said the Florida pension fund leading the case did not show that Block's directors acted in bad faith though the purchase it "seemed, by all accounts, a terrible business decision." Its complaint quoted a New York University business professor who called the purchase "a $300 million bar tab to hang out with Jay-Z." But in concluding that Block directors did not breach their fiduciary duties, McCormick said she could not "presume bad faith based on the merits of the deal alone." TL/DR not criminals, just idiots(zerohedge)