The lawsuit, filed by Levi & Korsinsky, LLP, covers investors who purchased Intuit securities between August 22, 2025, and May 20, 2026. The core of the complaint centers on Section 20(a) of the Securities Exchange Act, accusing the executives of failing to ensure the accuracy of financial filings and public communications. Despite certifying financial reports under the Sarbanes-Oxley Act, the executives allegedly reaffirmed aggressive growth guidance even as the TurboTax segment began to falter.
Intuit Executives Face Class Action Over TurboTax Growth Claims
A 20 percent single-day stock collapse following missed revenue targets has triggered a securities class action against Intuit Inc. Shareholders allege that CEO Sasan K. Goodarzi and CFO Sandeep S. Aujla misled investors regarding TurboTax growth projections while simultaneously offloading millions of dollars in personal stock holdings.
Legal filings highlight that Goodarzi and Aujla sold a combined 64,538 shares during the class period, netting more than $41 million in proceeds before the company announced a 17 percent workforce reduction and revenue misses. Intuit shares closed at $307.07 on May 21, 2026, marking a significant downturn from previous valuations. Investors seeking to serve as lead plaintiff in the litigation must file their applications with the court by September 8, 2026.
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