H&R Block Express IRA Class Action Lawsuit
Girard Gibbs served as lead counsel in a case against H&R Block alleging that the tax firm misled consumers in the marketing and sale of its "Express IRAs". The lawsuit alleged that H&R Block failed to adequately explain the Express IRA's financial consequences and limitations and that H&R Block knew that the Express IRA was an unsuitable investment for most of its clients.
H&R Block Class Action Alleges Violations of Missouri Securities & Consumer Laws
The class action lawsuit was filed in the U.S. District Court for the Western District of Missouri. The class action alleged that H&R Block's actions related to its Express IRA accounts violated Missouri securities laws and the Missouri Merchandising Practices Act, breach of fiduciary duty, unjust enrichment, money had and received, and equitable rescission.
H&R Block Class Action Settles for $19.4 million
The Court granted approval to a $19.4 million settlement providing for the repayment of program fees charged under the H&R Block Express IRA program. As a result of the lawsuit, the Express IRAs were also converted to H&R Block Easy IRAs, which carry fewer fees.
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Why Girard Gibbs?
Girard Gibbs represents consumers, investors, whistleblowers, employees, and businesses in cases involving consumer protection, personal injury, securities, antitrust, employment litigation and arbitration. The firm’s senior partners, Daniel Girard and Eric Gibbs, have been selected for inclusion in The Best Lawyers in America® 2012 and Northern California Super Lawyers, and have earned AV-Preeminent ratings from Martindale-Hubbell, recognizing them in the highest class of attorneys for professional ethics and legal skills.