Robbins LLP is Investigating Allegations that Intuit Inc. (INTU) Misled Investors Regarding the Company's Sustainability and Growth

Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Intuit Inc. (NASDAQ: INTU) securities between August 22, 2025 and May 20, 2026.  Intuit provides financial management, payments and capital, compliance, and marketing products and services in the U.S.

The Allegations:

According to the complaint, during the class period, defendants failed to disclose to investors 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; and (iii) accordingly, Intuit’s previously issued FY 2026 TurboTax revenue growth guidance was unreliable and/or unrealistic.

Plaintiff alleges that the truth began to emerge on May 20, 2026, when, during pre-market hours, Reuters published an article entitled “Intuit to cut 17% of global jobs to streamline operations, memo shows”. Citing an internal Company memorandum and email from defendant Sasan K. Goodarzi, Intuit’s Chairman and Chief Executive Officer, to staff earlier in the day, the article reported that “Intuit . . . is laying off about 17% of its workforce, or about 3,000 employees worldwide, to streamline operations and sharpen focus on its key bets including its AI efforts[.]” The article further revealed that Intuit “is also winding down its Reno and Woodland Hills offices as ⁠part of a strategic restructuring to consolidate teams in key hubs, according to the memo.” On this news, Intuit’s stock price fell $15.78 per share, or 3.95%, to close at $383.93 per share on May 20, 2026. The same day, during post-market hours, Intuit announced disappointing fiscal third quarter 2026 results. Following the news, Intuit’s stock price fell $76.86 per share, or 20.02%, to close at $307.07 per share on May 21, 2026.

What Now: You may be eligible to participate in the class action against Intuit Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.