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H&R Block IRA Fraud News

H&R Block Must Now Defend Shareholder Derivative Lawsuits

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H&R Block shareholders are now suing the company's Board of Directors in a "shareholder derivative" lawsuit. It alleges improper management practices including fraudulently recommending unsuitable investments to clients, for the purpose of making profit on fees. 
 
A similar lawsuit has also been launched by the pension fund of an ironworkers' union, which holds Block shares.

Investment group’s lawsuit adds to Block troubles

Kansas City Star - 6/13/2006 3:03 AM

The latest in a series of lawsuits over H&R Block Inc.’s financial products alleges that the company’s corporate culture “was conducive to serious and systematic ethical and legal violations.”
 
Unlike most of the other shareholder lawsuits against the company, however, the lawsuit is a so-called shareholder derivative action — or a lawsuit brought by shareholders on behalf of the corporation over allegedly improper management
 
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