Kessler Topaz Meltzer & Check, LLP has filed a securities fraud class action lawsuit against Intuit Inc. on behalf of investors who purchased or acquired Intuit securities between August 22, 2025 and May 20, 2026. The lawsuit, captioned Baldwin v. Intuit Inc., was filed in the United States District Court for the Northern District of California and alleges that Intuit made materially false and misleading statements regarding the strength of its tax-related business, particularly its TurboTax unit. The complaint claims that Intuit overstated its competitive advantages and growth while failing to disclose increasing competitive and pricing pressures that were eroding its tax business, rendering its full-year 2026 TurboTax revenue growth guidance unreliable. On May 20, 2026, Intuit's stock fell 3.9% after Reuters reported layoffs of about 17% of its global workforce, and then dropped an additional 20% after the company announced third-quarter fiscal 2026 revenue growth of only 7% year-over-year and acknowledged a disappointing tax season with TurboTax online paying units expected to grow by just 2%. Investors have until September 9, 2026 to seek lead plaintiff status.
Intuit IncSecurities fraud class action lawsuit alleging false statements about tax business strength.
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