Class Action Launched Against H&R Block Over ARS

Law360, New York (September 25, 2008, 12:00 AM EDT) -- H&R Block Inc. has been hit with a proposed class action accusing the company of misleading investors about the safety and liquidity of auction rate securities.

The lawsuit was filed Wednesday in the U.S. District Court for the Southern District of Illinois by Peter La Grave, trustee, as the Peter La Grave Trust, on behalf of the trust and a class of all individuals or entities that purchased, and still own, auction rate securities sold by H&R Block between Aug. 26, 2003 and Feb. 13, 2008....
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