HSBC Partner H&R Block Accused of Securities Fraud
H&R Block, Inc. has been accused of securities fraud. If you are a member of any of their investment plans or profit sharing retirement plans and purchased or held the Company’s stock in one of those plans during the periods January 31, 2005 to March 14, 2006, you may have a claim.
Block is HSBC’s partner in highly predatory tax refund lending. In other cases Block and HSBC are accused of racketeering, Block is accused of perpetrating fraud against their customers, and Block displayed mis-management in preparing their own taxes. The partnership with HSBC and H&R Block started with shady predatory lender Household International, now owned by HSBC and responsible for HSBC Taxmasters reputational risks. “Once a world class bank, HSBC is opening branches across the United States while staining its reputation with predatory lending and associations with troubled and shady companies. Such a move is not favorable to HSBC in North America or elsewhere” said a member of a consumer advocacy organization which vows to inform the public of HSBC’s dark underside.
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H&R Block’s shares have crumbled to a 52-week low this week. The company is standing by its financial guidance for the coming year, though it’s already admitting to slow customer traffic. With such serious breaches of trust undermining its public face — making H&R Block appear not only shady and greedy, but at times, seriously inept — HSBC might be making money with Block as a partner but it stinks of Household International!
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