Re: tax prep service

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#70

From: ~^ beancounter ~^
Date: Wed, 15 Mar 2006 21:40

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more h&r block news today >>>
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NEW YORK (CNNMoney.com) - New York Attorney General Eliot Spitzer sued
the financial services firm H&R Block on Wednesday, accusing it of
fraudulent business practices involving IRA accounts marketed to its
tax preparation customers.

H&R Block (down $1.01 to $20.99, Research) stock tumbled on the news,
falling by as much as 8 percent on the New York Stock Exchange.

The suit, filed in State Supreme Court in Manhattan, seeks $250 million
in fines in addition to refunds from the Kansas City, Mo.-based
accounting firm for steering approximately 500,000 customers into IRA
accounts that were "virtually guaranteed" to lose money.

Customers who opened an Express IRA account were often burdened by
unadvertised account fees, making it difficult to grow their savings,
said Spitzer, who is currently seeking the Democratic nomination for
governor of New York.

"(H&R Block) has been advertising itself quite consistently as being in
your corner," said Spitzer at a press conference. "I think it is fair
to say that they are not in your corner -- they've been putting their
clients in the corner instead."

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From: "~^ beancounter ~^" <richbonilla@yahoo.com>
Newsgroups: boulder.ads
Subject: Re: tax prep service
Date: 15 Mar 2006 13:40:48 -0800
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