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H&R Block might have charged its clients fees for its Express IRA account that was greater than the interest earned.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Misrepresentation
- Excessive or Unauthorized Fees
- Investments
- Undisclosed Fees By Investment Advisors
- Unsuitable Investments
- Investment Advisor Duties
Product or Service
- H R Block Express Individual Retirement Account
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending class action lawsuit against H&R Block alleging that the tax firm misled consumers in the marketing and sale of their "Express IRA" product.
This class action lawsuit alleges that consumers who open Express IRAs lose money because H&R Block's fees for the accounts exceed the interest earned by the accounts.
The lawsuit further alleges 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.
This class action lawsuit alleges that consumers who open Express IRAs lose money because H&R Block's fees for the accounts exceed the interest earned by the accounts.
The lawsuit further alleges 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.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| H&R Block, Inc. (HRB) | H&R Block, Inc. primarily is a tax preparation company, but also offers investment products and services. |