What is the date of the press release included as an exhibit in the Ledgers FDD?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit Number Description
16.1 Letter from KPMG LLP dated December 11, 2017. 99.1 Press Release dated December 11, 2017.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, a press release is included as an exhibit. Specifically, Exhibit 99.1 is a press release dated December 11, 2017. This press release was issued by Liberty Tax, Inc.
The press release announced the resignation of KPMG as Ledgers' independent registered public accounting firm. It also stated that the company would delay filing its Quarterly Report on Form 10-Q for the quarter ended October 31, 2017.
For a prospective Ledgers franchisee, this indicates a past event related to accounting matters and a change in the company's auditing firm. While this event occurred several years prior to the 2025 FDD, it is disclosed as part of the company's financial reporting history.