June 30, 1999 |
H&R Block Inc., the world's largest tax preparer, said it will pay $290 million for accounting firm McGladrey & Pullen's non-audit business, expanding its accounting and consulting practice fourfold as it builds a full-range financial services company. The transaction would make H&R Block the nation's sixth-largest accounting firm, with about $400 million in revenue.
June 28, 2007 |
Richard Breeden, former head of the Securities and Exchange Commission and now a hedge fund manager, is seeking a seat on H&R Block Inc.'s board as management faces pressure to sell the company. Breeden Capital Management, which holds about 2% of H&R Block's shares, will nominate Breeden and two other people to fill three seats on the company's 11-member board in September, the Greenwich, Conn.-based investment firm said Wednesday.
January 26, 1999 |
H&R Block Inc., the largest tax-preparation company in the U.S., said it will sell its credit card unit to Providian Financial Corp., exiting the card business. San Francisco-based Providian will buy H&R Block's $181-million WebCard Visa portfolio. Terms of the transaction, which is expected to close Friday, weren't disclosed. The credit cards were used by customers of H&R Block's former CompuServe online service. The company sold CompuServe to MCI WorldCom Inc. in February.
January 13, 2000 |
H&R Block Inc., the world's largest tax preparation company, said it will offer online trading and some mortgage services as part of its Internet operations. The Kansas City, Mo.-based company also will expand the number of its U.S. financial services centers, which offer mortgage services, investment advice and tax preparation, for a total of 94 this year. E-Loan Inc. is working with H&R Block on providing mortgage rates for its online service.
July 23, 1999 |
H&R Block Inc. says it is looking to sell its Irvine-based wholesale mortgage unit, Option One, in an effort to focus on its retail businesses. Option One, founded in 1992, specializes in mortgages to customers with bad credit, originating about $3.6 billion in loans in the last year. That makes the company--which employs 1,500 people nationwide--slightly larger than Orange-based rival Long Beach Financial Corp.
March 14, 2007 |
H&R Block Inc. will post $29 million more in pretax losses from sub-prime mortgages than first reported last month, and the company's third-quarter regulatory filing will be delayed. H&R Block, the nation's biggest tax-preparation company, said Feb. 22 that it had a net loss of $44.7 million in the quarter ended Jan. 31. Since then, the Kansas City, Mo.
November 9, 2004 |
Securities regulators have accused H&R Block Financial Advisors of fraud in selling customers nationwide some $16 million of Enron Corp. bonds in late 2001 and touting them as a safe investment when the energy-trading giant had begun to collapse. The NASD, formerly the National Assn. of Securities Dealers, announced its complaint Monday against the investment division of the world's largest tax preparer, H&R Block Inc., which denied the allegations.
December 22, 2005 |
Tax preparer H&R Block Inc. agreed Wednesday to pay $62.5 million to settle a number of class-action lawsuits dealing with its use of refund anticipation loans. A Circuit Court judge in West Virginia is scheduled to consider the settlement Friday. If approved, it will resolve four class-action suits filed in West Virginia, Ohio, Alabama and Maryland, as well as claims pending in 22 other states and the District of Columbia.
November 7, 2006 |
H&R Block Inc. said Monday that it was "evaluating strategic alternatives" including a sale for its Irvine-based Option One Mortgage Corp., which has turned unprofitable amid intense competition in its shrinking business -- higher-cost "sub-prime" mortgages to borrowers considered risky because of low credit scores or insufficient income or home equity. H&R Block, the Kansas City, Mo.