H&R Block Faces Suits on Tax-Refund Loans

Tenet Healthcare tumbles; Overture Services drops; plus more of today's stocks in the news

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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.