Robbins Geller Rudman & Dowd LLP announced a class action lawsuit against Intuit Inc. on behalf of purchasers of Intuit securities between August 22, 2025 and May 20, 2026, with a lead plaintiff deadline of September 8, 2026. The lawsuit alleges that Intuit and certain top executives made false or misleading statements about the company's competitive advantages and growth, while failing to disclose significant business losses in its tax-related segment, particularly TurboTax, due to increasing competitive and pricing pressures, rendering its 2026 TurboTax revenue growth guidance unreliable. On May 20, 2026, Reuters reported Intuit would cut about 17% of its global workforce, or roughly 3,000 employees, causing the stock to drop nearly 4%, and later that day Intuit disclosed weak fiscal third quarter 2026 tax season revenue, with TurboTax revenue growing only 7% year-over-year versus consensus estimates of at least 8%, and projected TurboTax online paying units would grow by only 2% amid an industry-wide contraction, leading to a stock decline of over 20%. Investors with substantial losses can seek appointment as lead plaintiff by the September 8 deadline.
Intuit IncClass action lawsuit alleging false statements about competitive advantages and growth, with lead plaintiff deadline.