Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Liberty Tax, Inc. Investors (TAX)

LOS ANGELES--(EON: Enhanced Online News)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York (Docket Number 1:18-cv-00245) on behalf of persons and entities that acquired Liberty Tax, Inc. (“Liberty” or the “Company”) (NASDAQ: TAX) securities between June 29, 2016 and December 11, 2017, inclusive (the “Class Period”), asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Investors are hereby notified that they have until February 13, 2018 to move the Court to serve as lead plaintiff in this action.

Investors suffering losses on their Liberty investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights at 310-201-9150 or by email to shareholders@glancylaw.com, or visit the Liberty case page on our website at www.glancylaw.com/case/liberty-tax-inc.

On September 6, 2017, Liberty announced that founder and CEO John T. Hewitt had been terminated; and, 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.

The complaint filed in this class action alleges that, throughout the Class Period, Defendants made a series of false and misleading statements regarding the Company’s disclosure controls and procedures. For example, although Defendants told the investing public that the Company maintained effective internal controls to ensure the accuracy of its financial reporting, investors ultimately learned the opposite was true, i.e. the Company’s internal controls were ineffective and did not ensure accurate financial reporting. The market learned the truth on December 11, 2017, when Liberty Tax filed a Form 8-K with the SEC announcing the sudden resignation of its independent registered public accounting firm, and stated that the Company would delay the filing of its quarterly report on Form 10-Q for the quarter ended October 31, 2017.

If you purchased Liberty securities during the Class Period you may move the Court no later than February 13, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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