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Quotient Technology Inc.

Case Details

Date Filed: February 07, 2024
Case Number: 2024-0104-SG
Jurisdiction: Delaware Court of Chancery
icon-casetype Case Type: Stockholder Class Action

Case Summary

On February 7, 2024, Saxena White filed a stockholder class action lawsuit on behalf of a group of former Quotient Technology Inc. stockholders—including Quotient founder and former CEO Steven Boal and former Quotient President Scott Raskin—alleging breaches of fiduciary duty by Quotient CEO and director Matthew Krepsik in connection with the September 2023 sale of Quotient to a portfolio company of the private equity firm Charlesbank for $4.00 per share.

The lawsuit, filed in the Delaware Court of Chancery, alleges Krepsik engineered an underpriced sale after being enticed by Charlesbank with visions of serving at the helm of the larger post-merger combined enterprise. The lawsuit alleges that Krepsik put Quotient up for sale at an inopportune time and acted to block, or declined to pursue, superior alternative transactions with other bidders for the company—alternatives that would have resulted in greater per-share consideration for Quotient stockholders—in order to serve his own personal interests.

The lawsuit seeks damages from Krepsik for the difference between what Quotient stockholders received in the underpriced sale and what stockholders would have received if Krepsik had acted in accordance with his duties to maximize value for Quotient stockholders.

For more information on this case, please contact Saxena White Director Thomas Curry at (302) 485-0480 or tcurry@saxenawhite.com.

Documents
Complaint