Kansas City, Mo. (Jan. 13, 2004) -- H&R Block agreed to pay $130 million to settle lawsuits filed by some of its former franchisees over the payment price they received when Block bought out their firms.

The $130 million settlement, which resolves pending litigation over the fair market value of the business upon expiration of the franchise contracts, is in addition to the $107 million Block paid the former franchisees earlier under their franchise contracts. It frees Block from having to go to trial with each franchisee to determine the amount of any additional payments to be made.

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