Securities Fraud Investigation Into Intuit Inc. (INTU) Announced – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Intuit Inc. (“Intuit” or the “Company”) (NASDAQ: INTU) on behalf of investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON INTUIT INC. (INTU), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.

What Is The Investigation About?

On May 20, 2026, Reuters published an article stating 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” and that the Company “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, or 3.95%, to close at $383.93 per share on May 20, 2026, thereby injuring investors.

The same day, after market hours, Intuit released its fiscal third quarter 2026 financial results, reporting weak revenue, including TurboTax revenue that grew by only 7% year-over-year, versus consensus estimates of at least 8% revenue growth due to “[facing] pressure among the most price-sensitive DIY filers earning less than $50,000 a year” and that the Company “lost on price.” Additionally, the Company disclosed that TurboTax online paying units were expected to grow by only 2% as total IRS filers were expected to decline by approximately 30 basis points, representing the “most significant industry-wide contraction since the post-COVID tax season.”

On this news, Intuit’s stock price fell $76.86, or 20.02%, to close at $307.07 per share on May 21, 2026, thereby injuring investors further.

Contact Us To Participate or Learn More:

If you purchased Intuit securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: [e-mail]
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

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