Alert: Claims Focus on Alleged Misrepresentations About Intuit’s TurboTax Growth and Revenue Outlook

NEW YORK, July 23, 2026 /PRNewswire/ — SueWallSt 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 or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

When the Company disclosed a workforce reduction of approximately 3,000 employees, reported weaker-than-expected TurboTax results, and reduced its full-year TurboTax revenue growth outlook to approximately 7% from prior expectations of 8%, INTU shares declined 20.02%, a drop of $76.86 per share, closing at $307.07. Investors have until September 8, 2026 to seek lead plaintiff status.

The Announced Workforce Reduction Affecting Approximately 3,000 Employees

Intuit’s Consumer segment generates revenue primarily through its TurboTax do-it-yourself and assisted tax preparation products. The complaint recounts that on May 20, 2026, Reuters reported the Company was laying off about 17% of its global workforce and winding down its Reno and Woodland Hills offices to “streamline operations.” That pre-market disclosure preceded a Q3 2026 report showing TurboTax revenue grew by only 7% year-over-year, missing consensus estimates.

As detailed in the action, management later conceded pressure “among the most price-sensitive DIY filers earning less than $50,000 a year” and acknowledged that the Company “lost on price.”

TurboTax Revenue Trends and Price-Sensitive Filers

The complaint chronicles that TurboTax online paying units were expected to grow by only 2%, while total IRS filers were projected to decline by approximately 30 basis points, described as the “most significant industry-wide contraction since the post-COVID tax season.” The lawsuit contends that the Company was allegedly losing significant business in its tax-related segment due to increasing competitive and pricing pressures that were not disclosed to investors during the Class Period.

Alleged Revenue Impact by the Numbers

• TurboTax full-year revenue growth guidance reduced from 8% to 7%
• TurboTax online paying units expected to grow by only 2%
• IRS filers projected to contract by approximately 30 basis points
• Approximately 17% workforce reduction, or about 3,000 employees
• Offices in Reno and Woodland Hills wound down as part of restructuring
• Single-day stock decline of 20.02%, or $76.86 per share, to close at $307.07

“The complaint raises serious questions about whether investors received adequate information regarding pricing and competitive pressures affecting Intuit’s core tax preparation business.” — Joseph E. Levi, Esq.

Calculate your potential recovery or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

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 17% 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 a reduction in 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 court was the INTU class action filed in? A: The case was filed in the United States District Court for the Northern District of California, governed by the Private Securities Litigation Reform Act of 1995.

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 SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation case evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

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: 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.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

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SOURCE SueWallSt.com