Liberty Tax, Inc. is a full service income tax preparation company that operates in a franchise model.

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. On October 21, 2020, the Court of Appeals affirmed the District Court's dismissal Order.