TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

H&R Block Inc (NYSE: HRB) Investor Securities Class Action Lawsuit 09/24/2008

  • If you purchased shares of H&R Block Inc (NYSE: HRB), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
H&R Block, Inc.
Security
NYSE: HRB

Case Name
H&R Block Shareholder Class Action Lawsuit 09/24/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Illinois

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to H&R Block, Inc..
Summary

August 27, 2009 - The court ordered the case dismissed without prejudice.
August 26, 2009 - The plaintiff filed a notice of voluntary dismissal without prejudice.

August 13, 2009 - The court denied the plaintiff's motion to appoint a lead plaintiff and lead counsel.

May 26, 2009 - A lead plaintiff motion was re-filed.

March 25, 2009 -The court denied the defendants' motion to dismiss and granted plaintiff leave to re-file once the court has appointed a lead plaintiff.

February 17, 2009 - Defendants filed a motion to dismiss.

January 9, 2009 - The plaintiff filed an amended complaint on behalf of investors who purchased H&R Block (NYSE: HRB) auction rate securities between September 24, 2003 and February 13, 2008. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 between September 24, 2003 and February 13, 2008.

December 23, 2008 - The court denied the plaintiff's motion to appoint lead plaintiff and lead counsel.

November 24, 2008 - A lead plaintiff motion was filed.

September 24, 2008 - An investor in auction rate securities of H&R Block Inc (NYSE: HRB) filed a lawsuit in the U.S. District Court for the Southern District of Illinois against H&R Block Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff charges H&R Block Inc and certain of its officers with violations of the Securities Exchange Act of 1934. The complaint alleges that between August 26, 2003 and February 13, 2008 defendant issued materially false and misleading statements regarding H&R Block Inc's business and financial results.

The complaint alleges that H&R Block Inc's subsidiary, H&R Block Financial Advisors Inc, misrepresented the liquidity of the auction-rate securities it sold. Specifically, the suit alleges that H&R Block Financial Advisors Inc told consumers the securities were highly liquid and suitable for short-term investing. However, the suit alleges that H&R Block Financial Advisors Inc knew these were not cash alternatives but in reality long-term financial instruments with 30-year maturity dates or longer. So when Kansas City-based H&R Block Inc (NYSE: HRB) and other broker-dealers withdrew support for periodic auctions of the securities on February 13, a freeze of the auction-rate securities market resulted.