On or around 02/21/2020 (Other)
Filing Date: December 15, 2017
According to the law firm press release, the Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Liberty Tax’s former CEO created an inappropriate tone at the top; (2) the inappropriate tone at the top led to ineffective entity level controls over the organization; and (3) as a result, defendants’ statements about Liberty Tax’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On March 8, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel and consolidating cases. The consolidated cases shall be identified as "In re Liberty Tax, Inc. Securities Litigation." On June 12, Lead Plaintiff filed a consolidated amended Complaint. On November 27, Defendants filed a Motion to Dismiss the consolidated amended Complaint. On January 17, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff filed a notice appealing the Court's dismissal Order on February 19.
Company & Securities Information
Defendant: Liberty Tax, Inc.
Industry: Personal Services
Headquarters: United States
Ticker Symbol: TAX
Company Market: NASDAQ
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.
First Identified Complaint
Patrick Beland, et al. v. Liberty Tax, Inc., et al.