8th Circ. Affirms H&R Block Securities Suit Dismissal

Law360, New York (September 9, 2009, 6:54 PM EDT) -- A federal appeals court has dismissed allegations against H&R Block in a consolidated securities class action over alleged false reporting while resurrecting two related derivative suits.

The U.S. Court of Appeals for the Eighth Circuit ruled Wednesday to uphold one dismissal, finding that Horizon Asset Management Inc. did not adequately plead a consolidated complaint against Block and several of its officers.

The panel, however, reversed the dismissal of shareholder derivative suits filed against the tax preparer by Iron Workers Local 16 Pension Fund and Momentum Partners....
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