Bragar Eagle & Squire, PC examines Schmitt and
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: INTU). Our investigations address whether these companies have violated federal securities laws and/or engaged in other illegal business practices. For more information on each case, see the link provided.
Schmitt Industries, Inc. (NASDAQ:SMIT)
On September 20, 2022, after market close, Schmitt announced that its prior financial statements “should no longer be relied upon” and would require a revaluation, estimating that “the errors were cumulatively material, resulting in an underestimate of 330,203 $ in expenses for the first three quarters of the fiscal year.”
On the news, Schmitt stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, hurting investors.
Further information on the Schmitt examination can be found at: https://bespc.com/cases/SMIT
Intuit, Inc. (NASDAQ: INTU)
On March 29, 2022, the FTC filed a lawsuit against Inuit alleging that the company tricked millions of Americans into paying for tax service preparation software that was supposed to be free. On May 4, 2022, Intuit agreed to pay $141 million to settle similar turbo tax allegations.
At that new price, 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, visit: https://bespc.com/cases/INTU
About Bragar Eagle & 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, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. attorney advertising. Previous results not …
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