June 18, 2013 (Shareholders Foundation) - An investigation on behalf of investors, who purchsased NYSE:HRB shares between June 23, 2011 and September 1, 2011, was announced concerning potential securities laws violations by H&R Block, Inc. and certain of its directors and officers in connection certain financial statements.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of H&R Block, Inc. (NYSE:HRB) concerning whether certain statements by H&R Block, Inc. between June 23, 2011 and September 1, 2011 regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On September 1, 2011, H&R Block, Inc. announced that it recorded a goodwill impairment charge of $85 million in connection with the sale of RSM to McGladrey & Pullen, LLP.
H&R Block, Inc. reported that its Total Revenue declined from over $4.08 billion for the 12 months period that ended on April, 30, 2009 to over $2.89 billion for the 12 months period that ended on April 30, 2012 and that its respective Net Income declined from $485.67 million to $265.93 million.
Shares of H&R Block, Inc. (NYSE:HRB) grew from $10.78 per share in October 2010 to $30.13 on May 31, 2013.
On June 17, 2013, NYSE:HRB shares closed at $28.87 per share.