W. Va. Law School Gets $8M in Unclaimed Settlement Money
West Virginia University’s law school will get $8 million in unclaimed settlement proceeds from a class-action lawsuit against H&R Block.
The money is the largest gift ever made to the law school, the Charleston Gazette reports.
Judge Duke Bloom suggested giving the money to the law school. Lawyers from both sides of the case approved, along with guardians ad litem appointed to vet the handling of the unclaimed money, the story says.
The lawsuit had contended H&R Block labeled upfront payments to clients as “rapid refunds” when in reality they were loans with interest rates ranging from 29 percent to 750 percent. The case settled in 2006 for about $62.5 million.
A hat tip to Above the Law, which posted the story.