DOJ files suit seeking to prevent H&R Block, Inc. from acquiring TaxACT | Practical Law

DOJ files suit seeking to prevent H&R Block, Inc. from acquiring TaxACT | Practical Law

On 23 May 2011, the US Department of Justice (DOJ) filed suit in federal district court seeking to prevent H&R Block, Inc., from acquiring 2SS Holdings, Inc., the maker of TaxACT, a digital do-it-yourself tax preparation product. The DOJ believes that the acquisition would reduce the number of major competitors in the product market from three to two, and that the remaining competitors would raise prices and decrease product innovation and quality.

DOJ files suit seeking to prevent H&R Block, Inc. from acquiring TaxACT

Practical Law UK Legal Update 6-506-3131 (Approx. 3 pages)

DOJ files suit seeking to prevent H&R Block, Inc. from acquiring TaxACT

by Practical Law
Law stated as at 23 May 2011USA (National/Federal)
On 23 May 2011, the US Department of Justice (DOJ) filed suit in federal district court seeking to prevent H&R Block, Inc., from acquiring 2SS Holdings, Inc., the maker of TaxACT, a digital do-it-yourself tax preparation product. The DOJ believes that the acquisition would reduce the number of major competitors in the product market from three to two, and that the remaining competitors would raise prices and decrease product innovation and quality.