The complaint (like the complaint recently filed by New York State Attorney General against H&R Block), alleges that H&R Block fraudulently marketed Express IRAs to its tax customers, causing hundreds of thousands of mostly low-income clients to lose money.  The complaint alleges that H&R Block steered its tax customers into unsuitable, poor performing, fee ridden retirement accounts, called Express IRAs, which were marketed as paying “great rates” and a “better way to save.”  In fact, for many H&R Block customers, the interest earned on the Express IRAs did not even cover the fees charged by H&R Block and H&R Block did not adequately disclose the fees associated with the Express IRAs to its customers.

If you are an H&R Block customer who opened an “Express IRA” account with H&R Block, you may have a claim under your state’s laws.  If you would like more information, or would like to discuss filing an action against H&R Block, please contact our paralegal Allison Newman or attorney Michelle Blauner via our toll-free number (800) 287-8119 or by email at cases@shulaw.com.

Shapiro Haber & Urmy LLP is a Boston-based litigation firm with over twenty years of experience representing individuals in complex civil litigation, including class actions for consumer fraud, securities fraud and unlawful employment practices.