Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Intuit Inc. (NasdaqGS: INTU).
For many years, the Company operated under an agreement with the Internal Revenue Service to provide a free version of its commercial tax filing products called TurboTax “Freedom Edition” to low-income taxpayers in exchange for the IRS agreeing not to compete by offering its own free online tax filing service. However, the Company has recently been sued in a consumer class action lawsuit alleging that it defrauded taxpayers through a scheme to deliberately hide or otherwise limit access to its free service, while aggressively marketing another program as free even though it had limited functionality and deceived users otherwise eligible for free filing into paying for product upgrades to file their taxes.
KSF’s investigation is focusing on whether Intuit’s officers and/or directors breached their fiduciary duties to Intuit’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Intuit shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.