A lawsuit was filed on behalf of investors in Liberty Tax Inc (NASDAQ:TAX) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/30/2018 -- An investor, who purchased NASDAQ:TAX shares, filed a lawsuit against Liberty Tax Inc over alleged Securities Laws violations.
Investors who purchased shares of Liberty Tax Inc (NASDAQ:TAX) have certain options and for certain investors are short and strict deadlines running. Deadline: February 13, 2018. NASDAQ:TAX investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between June 29, 2016 and December 11, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Liberty Tax's former CEO John T. Hewitt created an inappropriate tone at the top, that the inappropriate tone at the top led to ineffective entity level controls over the organization, and that as a result, defendants' statements about Liberty Tax's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On September 6, 2017, Liberty Tax Inc announced that its founder and Chief Executive Officer ("CEO") John T. Hewitt had been terminated.
On November 7, 2017, Liberty Tax Inc ax announced the resignation of Kathleen Donovan, its Vice President and Chief Financial Officer.
On December 11, 2017, Liberty Tax filed a Form with the SEC, reporting that KPMG LLP resigned as its independent registered public accounting firm and that Liberty Tax will delay the filing of its quarterly report on Form 10-Q for the quarter ended October 31, 2017. KPMG reportedly expressed concerns regarding internal controls over financial reporting as related to the integrity and tone at the top set by Liberty Tax's former CEO John T. Hewitt.
Those who purchased shares of Liberty Tax Inc (NASDAQ:TAX) have certain options and should contact the Shareholders Foundation.
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