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.
On April 30, 2024, Defendant filed a motion to dismiss the verified stockholder class action complaint. On September 5, 2024, the Court denied the Defendant’s motion to dismiss.
On June 18, 2025, Plaintiffs filed an amended complaint adding new defendants Houlihan Lokey, Inc., CB Neptune Holdings, LLC, and Charlesbank Capital Partners LLC.
On May 11, 2026, the parties executed a Stipulation and Agreement of Settlement, Compromise, and Release, under which Defendants Matthew Krepsik, Houlihan Lokey Inc., Charlesbank Capital Partners LLC, and CB Neptune Holdings, LLC agreed to pay $48,000,000 in cash to resolve the Action. The Settlement Class consists of all record and beneficial holders of Quotient common stock as of September 5, 2023, who received $4.00 per share in cash upon the closing of the merger.
The Court of Chancery will hold a settlement hearing on September 22, 2026 to consider whether to approve the proposed settlement.
Additional information about the settlement, including the Stipulation, the Notice, and instructions for Settlement Class members, is available at www.QuotientStockholderSettlement.com.
