Liberty Tax Refund Anticipation Loan Class Action Settlement

A settlement has been reached in the Liberty Tax anticipation loan class action lawsuit, and you may be entitled to compensation.

This Liberty Tax class action settlement will resolve claims that the company’s financial products, which were provided by Republic Bank but facilitated by Liberty Tax between 2009 and 2012, violated several states’ laws as well as federal laws.

Furthermore, the plaintiffs of this Liberty Tax class action lawsuit allege Liberty Tax Inc. failed to properly disclose to consumers their Financial Products fees as finance charges, as well as neglected to inform consumers the APR (or Annual Percentage Rate) of what the plaintiffs of this anticipation loan class action lawsuit claim is a loan.

Liberty Tax denies all wrongdoing and liability in this anticipation loan class action lawsuit, but has decided to settle in order to avoid costly legal fees and the uncertainty of continued litigation.

According to the terms of the Liberty Tax anticipation loan class action settlement, the tax preparation company has agreed to pay $5.3 million to establish a settlement fund and compensate Class Members for the Liberty Tax financial and tax preparation products.

UPDATE: According to a Top Class Actions reader who has been in contact with the Settlement Administrator, checks should arrive in a few months. Email correspondence with the Class Member states: “The Court recently granted Final Approval of the Settlement, and claims administration is progressing as claims are being processed and analyzed. We anticipate having checks distributed during the second quarter of this year.”

UPDATE 2: On June 10, 2016, the Settlement Administrator filed a Claims Synopsis with the court which included the following information: “A toal of 52,522 Claimants submitted Approved Claims.  These Approved Claims include a total of 92,924 payable claims based on the total number of Tax Years these Claimants purchased the products at issue.  ……each Class Member that submitted an Approved Claim will receive $30.44 per Tax Year the claimant purchased the products at issue.”  Top Class Actions will continue to provide updates as we learn more.  Keep checking back and let us know when you receive a check in the comments section below or on our  Facebook page.

UPDATE 3: On July 29, 2016, the settlement website was updated stating that checks will be issued to approved claimants on August 2, 2016.  Let Top Class Actions  know when you receive a check in the comments section below or on our  Facebook page.

UPDATE 4: On Aug. 4, 016, Top Class Actions readers started receiving checks worth as much as $129.36 from the Liberty Tax anticipated loan class action settlement. 

Who’s Eligible

You are a Class Member of the Liberty Tax class action settlement if you used Liberty Tax for tax preparation in California, North Carolina, Wisconsin, Minnesota, Maryland, Illinois, Arkansas, Florida and New York and later received a Refund Anticipation Loan, an Electronic Refund Check, an Electronic Refund Deposit, or another financial product provided by Republic Bank, which were later taken over by Liberty Tax between 2009 and 2012.

Potential Award

$30 – $100 for each year a Liberty Tax Refund Product was purchased.

Proof of Purchase

To receive your portion of the Liberty anticipation loan class action settlement, you will need to submit a completed claim form by Jan. 2, 2016, online or by mail.

Claim Form

Claim Form Deadline

01/02/2016

Case Name

In re: Liberty Refund Anticipation Loan Litigation, Case No. 1:12-cv-02949, in the U.S. District Court for the Northern District of Illinois.

Final Hearing

12/03/2015

Settlement Website

www.LibertyTaxSettlement.com

Claims Administrator

Liberty Tax Settlement
c/o Heffler Claims Group
P.O. Box 750
Philadelphia, PA 19105-0750
(844) 271-4786

Class Counsel

CARNEY BATES & PULLIAM PLLC
GOLOMB & HONICK PC

Defense Counsel

FOLEY & LARDNER LLP