NEW YORK, Dec. 15, 2017 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it is continuing to investigate potential securities claims on behalf of purchasers of the securities of Liberty Tax, Inc. (NASDAQ : TAX ) resulting from allegations that Liberty Tax may have issued materially misleading business information to the investing public.
On September 6, 2017, Liberty Tax announced that its founder and Chief Executive Officer ("CEO") John T. Hewitt had been terminated. On November 7, 2017, Liberty Tax announced the resignation of Kathleen Donovan, its Vice President and Chief Financial Officer. On this news, shares of Liberty Tax fell $2.25 per share or over 16% from its previous closing price to close at $11.00 per share on November 8, 2017.
On December 11, 2017, Liberty Tax filed a Form 8-K with the SEC, reporting that KPMG LLP resigned as its independent registered public accounting firm and that Liberty Tax will delay the filing of its quarterly report on Form 10-Q for the quarter ended October 31, 2017. KPMG reportedly expressed concerns regarding internal controls over financial reporting as related to the integrity and tone at the top set by Liberty Tax's former CEO John T. Hewitt. On this news, shares of Liberty Tax fell during intraday trading on December 11, 2017, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Liberty Tax investors. If you purchased shares of Liberty Tax, please visit the firm's website at http://www.rosenlegal.com/cases-1254.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
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