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 - EconoTimes)
NEW YORK, Jan. 03, 2018 -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Liberty Tax, Inc. (NASDAQ:TAX) who purchased shares between June 29, 2016 and December 11, 2017. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) Liberty's former CEO, John T. Hewitt, created an inappropriate tone at the top; (2) the inappropriate tone at the top led to ineffective entity level controls over the organization; and (3) as a result, defendants’ statements about Liberty's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 6, 2017, Liberty announced that founder and CEO Hewitt had been terminated. On November 7, 2017, Liberty announced the resignation of Kathleen Donovan, its Vice President and Chief Financial Officer. On December 11, 2017, Liberty report that KPMG LLP resigned as its independent registered public accounting firm and that Liberty would delay the filing of its quarterly report on Form 10-Q for the quarter ended October 31, 2017.
Shareholders have until February 13, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/liberty-tax-inc?wire=3.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
