DOJ Moves To Block H&R Block's $288M TaxACT Buy

Law360, Los Angeles (August 1, 2011, 9:01 PM EDT) -- The Antitrust Division of the U.S. Department of Justice sought a preliminary injunction Monday in Washington seeking to block H&R Block Inc.’s $287.6 million purchase of 2SS Holdings Inc., maker of TaxACT tax preparation software and web services.

“The loss of TaxACT, an aggressive competitor in the digital [do-it-yourself] tax preparation market, will result in lower quality and higher prices for consumers,” the DOJ wrote in Monday’s motion, asking the court to block H&R Block from acquiring any stock, assets or interest in 2SS.

“A preliminary...
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