NEW ORLEANS--(BUSINESS WIRE)--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 continues its 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. The Company has been sued in a consumer class action lawsuit alleging that it defrauded customers through a scheme to deliberately hide or 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.
The Company has also been sued on similar allegations by the City of Los Angeles and Santa Clara County on behalf of the State of California for violations of the state’s Unfair Competition Law. Recently, the court presiding over the Los Angeles case denied the Company’s request to have to case dismissed, allowing it to proceed forward.
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 visit https://www.ksfcounsel.com/cases/nasdaqgs-intu/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner