Keith Rabois, the chief operating officer of mobile point-of-sale company Square has resigned.

Square has yet to comment on the announcement but Rabois stated in a blog post that he had stepped aside in relation to allegations that related to sexual harassment lawsuit, an accusation he strongly denies.

Square spokesman Ricardo Reyes, said: "While we have not found evidence to support any claims, Keith exercised poor judgment that ultimately undermined his ability to remain an effective leader at Square. We accepted his resignation."

In September of this year Square was valued at USD3bn.

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