Squire has been cited by the Sanzaar judiciary for clearing out TJ Perenara with his shoulder in the 12th minute of the Highlanders' 30-14 victory.
The incident - which saw Squire penalised for the ruck manoeuvre - was deemed by the citing commissioner to have met the red card threshold. Squire is alleged to have contravened Law 9:12 - "Dangerous Play - Striking with the Shoulder", and as a result will have to face the judiciary.
If they rule his offence is worthy of a ban, it will see Squire miss the All Blacks' first test against France, and the lengthen the All Blacks' already substantial list of absences.
It was a controversial game for Squire, who also spent 10 minutes in the sinbin for a swinging arm on Julian Savea.
Savea in turn was deemed extremely lucky to not join him after throwing a punch in retaliation, with a lack of television footage sparing his blushes.
Squire's judicial hearing will take place on Sunday night.