H&R Block (HRB) Unauthorized Sharing of Personal Information Case

On November 22, 2022, The Markup reported H&R Block (HRB) was sharing customers’ personal information without their knowledge or consent. On July 12, 2023, members of Congress released a report following up on those assertions.
On it, on November 23, 2022, $HRB fell 1.43%, losing $89M+ of shareholder value, then on July 12, 2023, $HRB fell 0.53%, losing $24M+ of shareholder value.
Investors may have grounds to suspect H&R Block of violating customers’ confidentiality, which led to their losses.

On November 22, 2022, The Markup reported that H&R Block shared its customers’ personal information with Google and Facebook, without their knowledge or consent. On July 12, 2023, members of Congress released a report following up on those assertions.

On this news, on November 23, 2022, $HRB fell 1.43% and lost over $89 million of its market capitalization, seriously damaging shareholders, and then on July 12, 2023 $HRB fell 0.53% and lost over $24 million of its market capitalization, further damaging shareholders.

Considering all the information, investors might have grounds to suspect H&R Block of violating customers’ confidentiality, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.

Case Status

Inactive Investigation

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

07/12/2023