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Intuit Securities Fraud Lawsuit Raised After Stock Drop and Layoffs

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Sig3.23Sen-5.62Env0.00Soc-3.41Gov-5.27

Intuit shares fell $15.78 (3.95%) to close at $383.93 on May 20, 2026, alongside news that TurboTax online paying units were expected to grow only 2% as total IRS filers were forecast to decline. A class action complaint alleges materially false or misleading statements and failure to disclose adverse facts from Feb. 25, 2025 to June 1, 2026. Reuters also reported planned layoffs of about 17% and office wind-downs in Reno and Woodland Hills.

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