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 Absurd: Justice Department sued H&R Block Inc. (HRB) to stop its proposed purchase of TaxAct

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Absurd: Justice Department sued H&R Block Inc. (HRB) to stop its proposed purchase of TaxAct Vide
PostSubject: Absurd: Justice Department sued H&R Block Inc. (HRB) to stop its proposed purchase of TaxAct   Absurd: Justice Department sued H&R Block Inc. (HRB) to stop its proposed purchase of TaxAct Icon_minitimeTue May 24, 2011 1:02 am
The U.S. Justice Department sued H&R Block Inc. (HRB) to stop its proposed purchase of TaxAct, saying the companies’ merger would stifle competition and raise prices in the growing market for consumer tax-preparation software.

The department claimed in an antitrust complaint filed yesterday in federal court in Washington that the deal would eliminate a company that has competed aggressively with H&R Block and “disrupted” the U.S. digital do-it-yourself tax- preparation market through low pricing and product innovation.


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