Kansas City, Mo. (Nov. 20, 2002) -- H&R Block has settled with members of the plaintiff class in a Texas class action lawsuit over refund anticipation loans.Block said it would absorb a $41.7 million pre-tax charge to second-quarter earnings as settlement to the lawsuit.
Under the settlement, Block has agreed to provide a five-year package of coupons to class members that they can redeem to obtain a variety of tax preparation and tax planning services. The coupons will be issued to Texas class members who received RALs between 1992 and 1996.
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