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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Intuit Inc | NASDAQ:INTU | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-7.44 | -1.17% | 630.95 | 630.42 | 630.97 | 637.92 | 629.6057 | 637.01 | 408,494 | 20:25:56 |
By Will Feuer
Intuit engaged in deceptive advertising when it marketed supposedly free tax services for which many consumers weren't eligible, the Federal Trade Commission's Chief Administrative Law Judge D. Michael Chappell ruled.
Chappell also ruled that there is a "cognizant danger of a recurring violation" by Intuit, and issued an order requiring the company to cease-and-desist from engaging in the deceptive practices alleged in the complaint, which was filed last year by FTC staff in the Bureau of Consumer Protection.
The FTC said the order bars Intuit from marketing any good or service as free unless it is free for all consumers and the company clearly discloses any terms that limit the offer. If the good or service is not free "to a majority of U.S. taxpayers," that also must be clearly disclosed, the FTC said.
Representatives for Intuit didn't immediately respond to a request for comment.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
September 08, 2023 12:06 ET (16:06 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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