Intuit agrees to pay $141 million settlement over misleading TurboTax ads

Intuit agreed to a settlement after being sued for claiming its tax filing services were free.

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SEANA SMITH: Turbotax owner Intuit reaching a settlement to pay millions to customers misled with promises of free tax filing. So here's the details. Under the settlement, Intuit is going to suspend its, quote, "free, free, free" ad campaign and pay $141 million to more than 4 million users.

Now, in a statement, New York's attorney general wrote, for years, Intuit misled the most vulnerable among us to make a profit. Today, every state in the nation is holding Intuit accountable for scamming millions of taxpayers, and we are putting millions of dollars back into the pockets of impacted Americans. Now, taking a look at shares of Intuit, they were initially impacted by this report. Now, shares closing up higher today, up just around 3%, along with the broader market rally.