Case Page

 

Case Status:    DISMISSED    
On or around 08/26/2009 (Notice of voluntarily dismissal)

Filing Date: September 24, 2008

The complaint alleges that H&R Block, Inc.'s H&R Block Financial Advisors Inc. 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 (NYSE: HRB) 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.

COMPANY INFORMATION:

Sector: Services
Industry: Personal Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HRB
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Illinois
DOCKET #: 08-CV-00667
JUDGE: Hon. Michael J. Reagan
DATE FILED: 09/24/2008
CLASS PERIOD START: 08/26/2003
CLASS PERIOD END: 02/13/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Carey & Danis, LLC
    8235 Forsyth - Suite 1100, Carey & Danis, LLC, MO 63105
    314.725.7700 314.725.7700 ·
No Document Title Filing Date
COURT: S.D. Illinois
DOCKET #: 08-CV-00667
JUDGE: Hon. Michael J. Reagan
DATE FILED: 01/09/2009
CLASS PERIOD START: 09/24/2003
CLASS PERIOD END: 02/13/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Carey & Danis, LLC
    8235 Forsyth - Suite 1100, Carey & Danis, LLC, MO 63105
    314.725.7700 314.725.7700 ·
  2. Stueve Siegel Hanson LLP
    460 Nichols Road, Suite 200, Stueve Siegel Hanson LLP, MI 64112
    816.714.7100 816.714.7101 · info@stuevesiegel.com
No Document Title Filing Date