Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Intuit Inc. who purchased shares between August 22, 2025 and June 20, 2026.
Intuit and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
According to the lawsuit, throughout the Class Period, defendants made materially false and 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 full year 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 8, 2026 to request that the court appoint them lead plaintiff.