H&R Block Faces Suits on Tax-Refund Loans
H & R Block (HRB ) says it faces lawsuits related to high-interest loans the tax preparer made to customers in anticipation of tax refunds. The company says any payments that may stem from a litigation involving refund anticipation loans will not have a material impact on financials. The stock was halted on the NYSE before the news broke Friday afternoon. S&P downgraded to hold from buy.
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