Robbins Geller sets Sept. 8 deadline in Intuit securities class action
Robbins Geller Rudman & Dowd LLP says Intuit investors who bought shares or other securities between Aug. 22, 2025, and May 20, 2026, may seek appointment as lead plaintiff by Sept. 8, 2026.
Robbins Geller Rudman & Dowd LLP says Intuit Inc. investors who bought securities between Aug. 22, 2025, and May 20, 2026, may seek appointment as lead plaintiff in a securities class action before a Sept. 8, 2026, deadline.
According to the press release, the case is captioned Baldwin v. Intuit Inc., No. 26-cv-07086, in the U.S. District Court for the Northern District of California. The law firm says the complaint alleges violations of the Securities Exchange Act of 1934 by Intuit and certain top executive officers.
The release says Intuit provides financial management, payments and capital, compliance, and marketing products and services. It alleges that the company overstated its competitive advantages, growth, and the strength and sustainability of its business model. It also says the complaint claims Intuit was losing significant business in its tax-related business, especially TurboTax, because of competitive and pricing pressures.
Robbins Geller says the complaint challenges Intuit’s previously issued 2026 TurboTax revenue growth guidance as unreliable or unrealistic.
The press release also points to events on May 20, 2026. It says Reuters reported that Intuit was cutting about 17% of its workforce, or about 3,000 employees worldwide, and that Intuit stock fell nearly 4% on that news, according to the complaint. Later that day, Intuit reported fiscal third quarter 2026 results, the release says.
In that earnings update, the release says TurboTax revenue grew 7% year over year, below consensus expectations of at least 8%. It also says Intuit Chief Executive Sasan K. Goodarzi said TurboTax online paying units were expected to grow only 2%, while total IRS filers were expected to decline by about 30 basis points. The release quotes that outlook as the “most significant industry-wide contraction since the post-COVID tax season.”
Robbins Geller says Intuit stock dropped over 20% on the earnings news, according to the complaint.
The firm says investors who want to seek lead-plaintiff appointment must do so by Sept. 8, 2026. It also says a lead plaintiff can choose a law firm and that an investor’s ability to share in any potential future recovery does not depend on serving as lead plaintiff.
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