NEW YORK, Nov. 21, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Quotient Technology Inc. (“Quotient” or the “Company”) (NYSE: QUOT). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Quotient certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 5, 2020, Quotient reported its financial and operating results for the third quarter of 2020, including revenue that fell short of consensus estimates. In addition, for the three and nine months ended September 30, 2020, Quotient reported “restructuring charges of zero and $1.5 million, respectively, certain acquisition related costs of $0.4 million and $1.0 million, respectively, and loss contingency of $2.0 million related to a contract dispute resulting from a retailer’s failure to perform certain obligations related to a guaranteed distribution fee arrangement for both respective periods.”
On this news, Quotient’s stock price fell $2.08 per share, or 21.89%, to close at $7.42 per share on November 6, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 7980
