KANSAS CITY, MO. ( TheStreet) -- H&R Block (HRB) shares surged 5% on Thursday after the tax services provider said that it was in discussions to come to a settlement with HSBC (HBC) over continuing to offer refund anticipation loans.
H&R Block said that while its lawsuit is pending with its refund anticipation loan provider, the parties have been "engaged in discussions in an attempt to settle the litigation to confirm the availability of settlement products," according to a company statement.
H&R Block did not disclose details of the discussions, claiming confidentiality. There is also "no assurance that any settlement can be reached," it said.
As settlement talks continue, the company in the meantime is also preparing to "vigorously pursue" the claims. A hearing is scheduled for November 15.
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