A class action suit filed by a Boca Raton, Fla., lawyer against tax preparation giant H&R Block alleges that the company fraudulently marketed money-losing individual retirement accounts to low-income clients across the country.
The suit, whose lead plaintiff is a Broward County resident, claims that the Kansas City, Mo.-based company made millions in profits selling the IRA products even as clients’ IRA assets were depleted by fees and commissions. It alleges breach of contract, unjust enrichment, breach of fiduciary duty and violations of Missouri’s Merchandising Practices Act.
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