Intuit Inc. Faces Securities Fraud Lawsuit and Investor Stake Reduction

A securities fraud class action lawsuit has been filed against Intuit Inc. (NASDAQ: INTU) in the U.S. District Court for the Northern District of California. The complaint alleges that the company made false or misleading statements about the strength of its tax‑related business, overstated growth prospects, and provided unrealistic TurboTax revenue guidance for the period August 22, 2025 through May 20, 2026. Investors have until September 9, 2026 to seek lead‑plaintiff status.

Separately, Lombard Odier Asset Management Switzerland SA disclosed that it cut its holding in Intuit by 36.6% during the first quarter, selling 5,100 shares. The firm now owns 8,816 shares worth about $3.8 million. Other institutional investors have also adjusted positions in Intuit, but Lombard Odier’s reduction is the most significant recent change.