H&R Block, Inc. (NYSE: HRB) is an American tax preparation company with operations in North America and Australia.

The Complaint alleges that H&R Block, Inc.'s H&R Block Financial Advisors Inc. ("HRBFA") subsidiary misrepresented the liquidity of the auction-rate securities it sold. Specifically, the suit alleges that HRBFA told consumers the securities were highly liquid and suitable for short-term investing. However, the suit alleges that HRBFA 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 and other broker-dealers withdrew support for periodic auctions of the securities on Feb. 13, a freeze of the auction-rate securities market resulted.

On January 9, 2009, the Plaintiff filed a First Amended Class Action Complaint. On February 17, 2009, the Defendants filed a motion to dismiss the First Amended Class Action Complaint. On March 25, 2009, the motion to dismiss was denied as moot because there is currently no lead Plaintiff in this action. On May 26, 2009, a Plaintiff filed a motion for Counsel and lead Plaintiff. That motion was denied on August 13, 2009.

On August 26, 2009, the Plaintiff filed a Notice of Voluntary Dismissal. On August 27, 2009, Judge Michael J. Reagan signed the Order for Dismissal Without Prejudice.