SAN DIEGO, May 22, 2026 (GLOBE NEWSWIRE) — Johnson Fistel, PLLP is investigating whether Intuit Inc. (NASDAQ: INTU) or certain of its executive officers violated federal securities laws. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
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Background of the Investigation
On May 20, 2026, Intuit reported its third quarter fiscal 2026 results. The Company reported Consumer segment revenue of $5.3 billion, up 8% year over year, and TurboTax revenue of $4.4 billion, up 7% year over year. Intuit also disclosed that TurboTax Online paying units were expected to grow only 2%, while total TurboTax Online units were expected to decline approximately 2% and TurboTax’s share of e-files was expected to decline approximately one percentage point.
In its quarterly report on Form 10-Q, Intuit disclosed that Consumer segment revenue growth was driven by assisted tax, consumer money offerings, and strength in Credit Karma, but was partially offset by a decrease in revenue due to fewer TurboTax federal units.
During Intuit’s May 20, 2026 earnings call, management stated that Intuit “did not have the overall tax season we expected” and that the Company faced pressure among the most price-sensitive DIY filers earning less than $50,000 a year. Management further stated, “We lost on price,” and explained that Intuit would need to evolve its business model by delivering the right lineup and price points to meet simple filers’ needs at the low end.
Following this news, Intuit’s stock declined sharply, damaging investors.
In light of these disclosures, Johnson Fistel is investigating whether Intuit complied with state and federal laws, including the federal securities laws. If you suffered losses, or are a long-term holder of Intuit stock, contact Johnson Fistel.
About Johnson Fistel, PLLP | Top Law Firm – Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder class actions and derivative lawsuits. Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors.
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Contact
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations – or – Frank J. Johnson, Esq.
(619) 814-4471 | jimb@johnsonfistel.com | fjohnson@johnsonfistel.com
