Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:H&R Block Faces Shareholder Offensive Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 13, 2006

H&R Block Faces Shareholder Offensive

by: Marie Glancy

Two groups of H&R Block shareholders last week filed separate derivative suits against the company's board of directors in Kansas City, Missouri's U.S. District Court, reports the Associated Press.

It seems the plaintiffs, identified as investment group Momentum Partners of New York and the pension fund of Iron Workers Local 16, are riled over a series of regulatory charges and investigations directed at the company since 2001. The suits say the board failed to halt, among other things, the sale of Enron Corp. securities and mutual fund market timing, and the "Express IRA" products that New York Attorney General Eliot Spitzer recently blasted.

Block's management is saying it will fight the charges. Typically, derivative suits seek or result in corporate governance and management changes rather than monetary damages, but large settlements -- returned to the company, rather than to individual investors -- are not unheard of.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use