Bleichmar Fonti & Auld LLP announced an investigation into Intuit on May 25, 2026. The firm is investigating potential securities fraud regarding TurboTax pricing strategies. The probe examines if Intuit misled investors about price competitiveness for the 2026 tax season. Intuit previously claimed it would deliver the best price for do-it-yourself customers.
On May 20, Intuit reported fiscal Q3 results and admitted it lost on price among sensitive filers. The company stated it did not achieve the overall tax season results it expected.
Intuit stock fell 20% following the disclosure. The share price dropped from $383.93 on May 20 to $307.07 on May 21.