NEW YORK, July 27, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP reminds purchasers of Intuit Inc. (NASDAQ: INTU) securities of a pending securities class action. THE CASE: A class action seeks to recover damages for investors who purchased INTU securities between August 22, 2025 and May 20, 2026. YOUR OPTIONS: You may be entitled to compensation without payment of any out-of-pocket fees. See if you could be eligible to recover. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
On May 21, 2026, INTU shares closed at $307.07, down $76.86 in a single session, a 20.02% collapse. A day earlier, shares had already fallen $15.78 (3.95%) to $383.93 on layoff news. Investors have until September 8, 2026 to seek lead plaintiff status.
Chronology of Material Events
The securities action alleges that prior TurboTax growth guidance failed to disclose adverse business trends until Intuit's May 20, 2026 disclosures triggered a sharp market reaction, with shares declining approximately 20% the following trading day.
August 22, 2025 — TurboTax Guidance Set at 8%
The Class Period opens with Intuit's FY 2026 guidance projecting TurboTax revenue growth of 8 percent. The filing states that management cited "outstanding execution" and "breakthrough adoption in assisted tax" as part of the growth initiatives supporting its fiscal 2026 outlook, including 8% TurboTax revenue growth guidance.
September 18, 2025 — Guidance Reaffirmed at Investor Day
As set forth in the complaint, Intuit reaffirmed the 8 percent TurboTax revenue target in conjunction with its Investor Day, framing a narrative of sustained multi-year growth while allegedly failing to disclose pricing pressures and customer trends affecting price-sensitive filers.
November 20, 2025 & February 26, 2026 — Guidance Reiterated Twice More
Through its Q1 and Q2 2026 announcements, Intuit reiterated the same 8 percent TurboTax growth guidance, citing continued momentum, execution, and growth initiatives supporting the business.
May 20–21, 2026 — The Two-Stage Disclosure
Before the market opened on May 20, Reuters reported a restructuring cutting approximately 17% of the global workforce (roughly 3,000 employees) and winding down the Reno and Woodland Hills offices. After the close, Q3 2026 results showed TurboTax revenue grew only 7%, missing the 8% target, with management acknowledging pressure among filers earning less than $50,000 a year.
Timeline of Alleged Disclosure Failures
- August 22, 2025: FY 2026 guidance introduces the 8% TurboTax growth target
- September 18, 2025: Guidance reaffirmed at Investor Day
- November 20, 2025: Guidance reiterated with Q1 2026 results
- February 26, 2026: Guidance reiterated again with Q2 2026 results
- May 20, 2026: Reuters reports the ~17% workforce reduction (3,000 employees); shares fall $15.78 (3.95%)
- May 21, 2026: TurboTax growth cut to 7%; shares fall $76.86 (20.02%) to $307.07
"Timely disclosure of material developments is fundamental to fair and efficient markets. The sequence here raises the question of whether investors were told the 8% target was reaffirmed even as the underlying tax business allegedly softened." -- Joseph E. Levi, Esq.
Calculate your potential recovery or call (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.
Frequently Asked Questions About the INTU Lawsuit
Q: What is the INTU class action lawsuit about? A: A securities class action has been filed against Intuit Inc. (NASDAQ: INTU) alleging materially false and misleading statements between August 22, 2025 and May 20, 2026. Shares fell approximately 20.02% after the Company disclosed a workforce reduction and reduced TurboTax revenue growth guidance. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.
Q: How much did INTU stock drop? A: Shares fell approximately 20.02%, a decline of $76.86 per share, after the Company disclosed weak Q3 2026 tax season results and lowered TurboTax revenue growth guidance. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.
Q: What is the INTU lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is September 8, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.
Q: What if I already sold my INTU shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: What does it cost me to participate? A: There is no upfront cost to contact the firm. Securities class actions are generally handled on a pure contingency basis. No upfront fees, no retainer, and no out-of-pocket costs. Any attorneys' fees and expenses awarded to class counsel are subject to court approval.
Q: What do INTU investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.
Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.
CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
Tel: (212) 363-7500\
Fax: (212) 363-7171
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