Law360, New York (May 23, 2011, 12:13 PM EDT) -- The U.S. Department of Justice filed suit in Washington on Monday to stop Kansas City, Mo.-based H&R Block Inc. from buying the maker of TaxACT for $287.5 million because of worries that the combination would limit competition for online tax preparation software.
H&R Block announced in October its plan to acquire TaxACT developer 2SS Holdings Inc. and combine the company with its own digital tax preparation business, while still offering both brands in the market.
But in its complaint, the DOJ warned that the proposed merger...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.