Intuit Inc. Class Action Lawsuit - INTU

Company: Intuit Inc.

Ticker: (NASDAQ) INTU

56

Days Left

Lead Plaintiff Deadline: September 08, 2026

1
2
3
4

See If You Qualify For Monetary Reward
Join the Intuit Inc. Class Action Lawsuit

Required Field

Required Field

Required Field

  • $1 - $1,000
  • $1001 - $10,000
  • $10,001 - $25,000
  • $25,001 - $50,000
  • $50,001 - $100,000
  • $100,001 - $250,000
  • $250,001 - $500,000
  • $500,000+

There is no cost or obligation for you to submit.

The submission of this form does not create an attorney-client relationship.

Please Upload related files below

Add Transactions

Purchases

1.
  • Common Stock
  • Preferred Stock
  • Bonds
  • Calls
  • Puts
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Additional Purchases

Sales

1.
  • Common Stock
  • Preferred Stock
  • Bonds
  • Calls
  • Puts
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Additional Sales

Please input at least 1 transaction or press "skip for now" button below

Please fill in all the fields for your transaction or press "skip for now" button below

Alternatively, you may upload your transactions below or e-mail them to [email protected]

Fill in below.

Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in Intuit Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,



6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?



Clear

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Intuit Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

Upload Your Stock Tickers

Tell us the stocks you own using SnapTrade, and we will keep you informed about class action litigation related to your stocks. We monitor critical case developments that may affect the price of your shares and your possible monetary recovery. SnapTrade only shares the tickers you own and your transaction history, not your account numbers. Using SnapTrade and participating in our monitoring service is free and does not create any attorney-client relationship or obligation on your part.

Don’t miss out on possible monetary recovery - link your brokerage account with SnapTrade.

Skip

Class Period

Begins

22

Aug 2025

Ends

20

May 2026

August 22, 2025 - May 20, 2026

Allegations

The filed complaint alleges that Intuit Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) they had overstated Intuit’s competitive advantages and growth, as well as the overall strength and sustainability of its business model and operations; (ii) in reality, Intuit was losing significant business in its tax-related business, particularly in its Turbo Tax business, as a result of, inter alia, increasing competitive and pricing pressures; (iii) accordingly, Intuit’s previously issued FY 2026 TurboTax revenue growth guidance was unreliable and/or unrealistic; and (iv) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Eligibility

In order to be eligible to join the INTU class action lawsuit, you must have incurred a loss on shares of Intuit Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Intuit Inc. during the relevant time frame, you have until September 08, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Intuit Inc.Class Action Lawsuit Details

Key Facts About Intuit Inc. (NASDAQ: INTU)

●       The Allegation: The complaint alleges Intuit overstated its competitive advantages and growth while publicly touting "momentum" and AI-driven strength in its TurboTax and tax-related business; in reality, plaintiffs allege the company was losing significant business to increasing competitive and pricing pressures, making its FY 2026 TurboTax revenue growth guidance of 8% allegedly unreliable and unrealistic.

●       The Stock Drop: On May 21, 2026, INTU fell $76.86 per share (20.02%) to close at $307.07 per share after Intuit reported weak fiscal Q3 2026 tax season results, including TurboTax revenue growth of only 7% versus consensus of at least 8%, and cut its full-year TurboTax growth guidance to 7%; earlier, on May 20, 2026, INTU fell $15.78 per share (3.95%) to close at $383.93 per share after Reuters reported the company would cut about 17% of its global workforce.

●       Class Period & Defendants: The class period runs from August 22, 2025 through May 20, 2026, inclusive. The named defendants are Intuit Inc., Sasan K. Goodarzi (Chairman and Chief Executive Officer), and Sandeep S. Aujla (Executive Vice President and Chief Financial Officer).

●       Lead Plaintiff Deadline: The deadline to apply to serve as lead plaintiff is September 8, 2026. Class members need take no action before that date to remain part of the class. Action is only needed if you wish to seek appointment as lead plaintiff.

Intuit Class Action Summary

Company

Intuit Inc. (NASDAQ: INTU)

Lead Plaintiff Deadline

September 8, 2026

Class Period

August 22, 2025 – May 20, 2026

Stock Drop

May 20, 2026 – INTU fell $15.78 (3.95%) to $383.93; May 21, 2026 – INTU fell $76.86 (20.02%) to $307.07

Introduction

A securities class action has been filed against Intuit Inc. (NASDAQ: INTU). The case was filed on behalf of investors who purchased or otherwise acquired Intuit securities during the class period from August 22, 2025 through May 20, 2026.

The complaint alleges that Intuit made materially false and misleading statements about its business. Defendants touted strong "momentum" and AI advantages in the company's tax business. But the lawsuit claims Intuit was actually losing ground to competitive and pricing pressures. As a result, plaintiffs allege the company's 8% TurboTax growth guidance was not realistic.

Following the alleged corrective disclosures, Intuit's stock price dropped sharply. Shares fell 3.95% on May 20, 2026, and then 20.02% the next day. The complaint alleges investors suffered significant losses as a result.

Company Profile

Intuit Inc. provides financial management, payments and capital, compliance, and marketing products and services in the United States. The company operates four reportable business segments: Global Business Solutions; Consumer; Credit Karma; and ProTax. Its Consumer segment offers do-it-yourself and assisted income tax preparation products under the TurboTax brand, while its ProTax segment provides tax-preparation software and electronic tax filing services. Intuit is headquartered in Mountain View, California, and its common stock trades on the Nasdaq Global Select Market under the ticker symbol INTU.

Class Period

August 22, 2025–May 20, 2026

Investors who purchased or acquired Intuit Inc. (INTU) securities during the Class Period may be eligible to seek recovery under the federal securities laws.

Allegations

The complaint centers on Intuit's repeated public representations about the strength of its tax-related business, particularly TurboTax. Throughout the class period, defendants touted significant "momentum" across the company's segments and attributed that momentum to Intuit's purportedly significant competitive advantages, including the integration of artificial intelligence across its business and operations. In August 2025, the company provided FY 2026 financial guidance that included 8% revenue growth in its TurboTax business, citing "outstanding execution across our platform" and "breakthrough adoption in assisted tax."

According to the complaint, these representations were reinforced across a series of filings and press releases. Intuit's 2025 annual report on Form 10-K, filed September 3, 2025, stated that the company had "a significant competitive advantage" with its scale of data, AI capabilities, and network of AI-enabled human experts, and that its strategy positioned it for "durable growth." The Individual Defendants signed Sarbanes-Oxley certifications attesting that the filing did not contain untrue statements of material fact. On September 18, November 20, and February 26, 2026, the company reaffirmed or reiterated its FY 2026 guidance of 8% TurboTax growth, with Aujla in February 2026 expressing "high confidence in delivering double-digit revenue growth."

The complaint alleges these statements were materially false and misleading because defendants had overstated Intuit's competitive advantages and growth, as well as the overall strength and sustainability of its business model. In reality, plaintiffs allege, Intuit was losing significant business in its tax-related operations, particularly in TurboTax, as a result of increasing competitive and pricing pressures. Accordingly, the lawsuit claims the previously issued FY 2026 TurboTax revenue growth guidance was unreliable and unrealistic.

The complaint further alleges that Intuit's periodic filings violated SEC disclosure obligations. Under Item 105 of Regulation S-K, the company was required to disclose material risk factors, and under Item 303, it was required to describe known trends or uncertainties reasonably likely to have a material unfavorable impact on revenues. Plaintiffs allege that defendants' failure to disclose the erosion in the tax-related business, and the risk of missing FY 2026 TurboTax guidance, violated both provisions.

The Truth Emerges

According to the complaint, the alleged corrective disclosures began on May 20, 2026, when, during pre-market hours, Reuters published an article reporting that Intuit would cut about 17% of its workforce, or roughly 3,000 employees worldwide, to streamline operations and sharpen focus on its key bets, including its AI efforts. Citing an internal company memorandum and an email from Goodarzi to staff, the article also revealed that Intuit was winding down its Reno and Woodland Hills offices as part of a strategic restructuring. The news was widely reported by other outlets, and Intuit's stock price fell $15.78 per share, or 3.95%, to close at $383.93 that day.

During post-market hours the same day, Intuit issued a press release announcing its fiscal Q3 2026 results, reporting weak tax season revenue that included TurboTax revenue growth of only 7% year-over-year, versus consensus estimates of at least 8%. On the accompanying earnings call, Aujla acknowledged that with respect to TurboTax, "we did not have the overall tax season we expected," while Goodarzi stated he was "dissatisfied with our performance," noting the company "faced pressure among the most price-sensitive DIY filers earning less than $50,000 a year" and that "we lost on price."

Goodarzi further revealed that TurboTax online paying units were expected to grow by only 2%, and that the company now expected TurboTax to grow 7% for the full year, down from its prior 8% guidance. According to the complaint, these disclosures contradicted the sustained "momentum" and reaffirmed guidance defendants had communicated throughout the class period. Analysts responded by slashing price targets, with firms citing TurboTax DIY headwinds, pricing evolution, and weakness among price-sensitive filers.

Market Reaction

The market reaction unfolded over two consecutive trading days. On May 20, 2026, following the Reuters report of the workforce reduction, Intuit's stock price fell $15.78 per share, or 3.95%, to close at $383.93 per share. The following day, after the disclosure of weak fiscal Q3 2026 results and the reduced TurboTax growth guidance, the decline accelerated: Intuit's stock price fell $76.86 per share, or 20.02%, to close at $307.07 per share on May 21, 2026. The complaint alleges that these declines caused significant losses to Plaintiff and other members of the Class.

Next Steps

●       Lead Plaintiff Deadline: September 8, 2026

●       After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

●       Defendants may file a motion to dismiss.

●       If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.