Intuit Agrees to Withdraw Claims, Change Commercials; H&R Block Pleased with Outcome
KANSAS CITY, Mo.--(BUSINESS WIRE)--Jan. 18, 2006--The U.S. District Court for the Western District of Missouri today issued an order under which Intuit Inc. will immediately change its television and radio commercials that H&R Block claimed were inaccurate.
H&R Block (NYSE: HRB), the tax industry leader and second largest tax online and software provider, challenged its competitor's claim that its tax preparation software prepared more tax returns than in H&R Block's offices. H&R Block requested that Intuit provide supporting data and took its competitor to court last week when Intuit failed to adequately respond. Rather than continue to contest this issue in court, Intuit agreed to change its commercials, and the District Court confirmed that agreement with an order requiring Intuit to do so.
"It's common for smaller businesses to target an industry leader such as H&R Block in their advertising claims. However, these claims must be substantiated," said Tim Gokey, president, H&R Block Tax Services Inc. "We're pleased with today's result."
H&R Block's claims for money damages and a permanent injunction are still pending.
CONTACT: H&R Block
Media Relations:
Linda McDougall, 816-932-7542
lmcdougall@hrblock.com
or
Investor Relations:
Scott Dudley, 816-932-8342
scottdudley@hrblock.com
SOURCE: H&R Block