12/01/2018 21:50:57

IMPORTANT LIBERTY TAX, INC. INVESTOR REMINDER: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors who su

NEW YORK, Jan. 12, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP   announces that a federal securities class action lawsuit has been filed against Liberty Tax, Inc. ("Liberty Tax" or the "Company") (NASDAQ:TAX) and certain of its officers, on behalf of shareholders who purchased Liberty Tax securities between June 29, 2016 and December 11, 2017, both dates inclusive ("Class Period"). The case has been filed in the United States District Court for the Eastern District of New York.

Investors who have incurred losses in Liberty Tax, Inc. a

re urged to contact the firm immediately at

classmember@whafh.com

or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of  Liberty Tax, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than February 13, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Liberty Tax, Inc.

The complaint alleges that Defendants made false and/or misleading statements and failed to disclose that:

  • Liberty Tax's former CEO John T. Hewitt created an inappropriate tone at the top of the organization;

     

  • the inappropriate tone at the top led to ineffective entity level controls over the organization;

     

  • and; consequently, defendants' statements about Liberty Tax's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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.

Subsequently, 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.

Wolf Haldenstein Adler Freeman & Herz  LLP

has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

## Follow the firm and learn about newly filed cases on Twitter and Facebook. ##

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP

Kevin Cooper, Esq.

Gregory Stone, Director of Case and Financial Analysis

Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com

Tel: (800) 575-0735 or (212) 545-4774

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

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