NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Schmitt Industries, Inc. (NASDAQ: SMIT) and Intuit, Inc. (NASDAQ: INTO). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Schmitt Industries, Inc. (NASDAQ: SMIT)
On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restating, estimating that “the errors were cumulatively material, resulting in an understatement of $330,203 in expenses for the first three quarters of the fiscal year.”
On this news, Schmitt stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, hurting investors.
For more information on the Schmitt investigation go to: https://bespc.com/cases/SMIT
Intuit, Inc. (NASDAQ: INTU)
On March 29, 2022, the FTC filed a lawsuit against Inuit claiming that the company has deceived millions of Americans into paying for tax service preparation software that should be free. On May 4, 2022, Intuit agreed to pay $141 million to settle similar allegations regarding Turbo Tax.
On this news, Intuit’s stock fell $22.14, or 5.1%, to close at $409.86 on May 5, 2022.
For more information on the Intuit investigation go to: https://bespc.com/cases/INTU
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Previous results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com
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