Saxena White P.A. Announces A Proposed Settlement of Class Action For All Record and Beneficial Stockholders of Quotient Technology Inc. ("Quotient") Common Stock As of September 5, 2023
PR Newswire
WILMINGTON, Del., July 13, 2026
WILMINGTON, Del., July 13, 2026 /PRNewswire/ --
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN RE QUOTIENT TECHNOLOGY | ) | |
) | C.A. No. 2024-0104-JTL | |
) |
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT
OF STOCKHOLDER CLASS ACTION, SETTLEMENT HEARING,
AND RIGHT TO APPEAR
TO: All record and beneficial stockholders of Quotient Technology Inc. ("Quotient") common stock as of September 5, 2023 (the date of the consummation of the acquisition of Quotient by CB Neptune Holdings, LLC), whose shares were converted into the right to receive $4.00 per share in cash in connection with the Transaction, together with their respective successors and assigns, except the Excluded Persons (the "Settlement Class").1
PLEASE READ THIS SUMMARY NOTICE CAREFULLY.
YOUR RIGHTS ARE AFFECTED BY A CLASS ACTION LAWSUIT
PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Court of Chancery of the State of Delaware (the "Court"), that the above-captioned stockholder class action (the "Action") is pending in the Court.
YOU ARE ALSO NOTIFIED that Plaintiffs Steven Boal, Scott Raskin, The Spieker Living Trust, Spieker 2010 Irrevocable Children's Trust, SPK Investors LLC, and SPK Apartment Investors II LLC (collectively, "Plaintiffs"), on behalf of themselves and the Settlement Class, have reached a proposed settlement with Defendants Matthew Krepsik, Houlihan Lokey Inc., Charlesbank Capital Partners LLC, and CB Neptune Holdings, LLC (collectively, "Defendants") for $48,000,000 (United.States Dollars) in cash (the "Settlement"). The terms of the Settlement are stated in the Stipulation and Agreement of Settlement, Compromise, and Release between the Parties, dated May 11, 2026 (the "Stipulation"), a copy of which is available at www.QuotientStockholderSettlement.com. If approved by the Court, the Settlement will resolve all claims in the Action as against Defendants.
A hearing (the "Settlement Hearing") will be held on September 22, 2026, at 1:30 p.m., before The Honorable J. Travis Laster, Vice Chancellor, either in person at the Court of Chancery of the State of Delaware, New Castle County, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, Delaware 19801, or remotely by Zoom or other means (at the discretion of the Court), to, among other things: (i) determine whether to finally certify the Settlement Class for settlement purposes; (ii) determine whether Plaintiffs and Plaintiffs' Counsel have adequately represented the Settlement Class, and whether Plaintiffs should be finally appointed as Class Representatives for the Settlement Class and Plaintiffs' Counsel should be finally appointed as Class Counsel for the Settlement Class; (iii) determine whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Settlement Class and in their best interests, and should be approved by the Court; (iv) determine whether a Judgment, substantially in the form attached as Exhibit D to the Stipulation, should be entered dismissing the Action with prejudice as against Defendants and granting the Releases provided under the Stipulation; (v) determine whether the proposed Plan of Allocation of the Net Settlement Fund is fair and reasonable, and should therefore be approved; (vi) determine whether the application by Plaintiffs' Counsel for a Fee and Expense Award (including any Incentive Awards to Plaintiffs) should be approved; (vii) hear and determine any objections to the Settlement or Plaintiffs' Counsel's application for a Fee and Expense Award and any Incentive Awards to Plaintiffs; and (viii) consider any other matters that may properly be brought before the Court in connection with the Settlement. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in person or remote appearances at the hearing, will be posted to the Settlement website, www.QuotientStockholderSettlement.com.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Net Settlement Fund. If you have not yet received the Notice, you may obtain a copy of the Notice by contacting the Settlement Administrator at Quotient Stockholder Settlement, c/o A.B. Data, Ltd., P.O. Box 170500, Milwaukee, WI 53217. A copy of the Notice can also be downloaded from the Settlement website, www.QuotientStockholderSettlement.com. If the Settlement is approved by the Court and the Effective Date occurs, the Net Settlement Fund will be distributed on a pro rata basis to eligible Settlement Class Members in accordance with the proposed Plan of Allocation stated in the Notice or such other plan of allocation as is approved by the Court. Under the proposed Plan of Allocation, all eligible Settlement Class Members who held or beneficially owned shares of Quotient common stock at the closing of the Transaction on September 5, 2023, and therefore received the Transaction Consideration for their "Eligible Shares" will be eligible to receive a pro rata payment from the Net Settlement Fund equal to the product of (i) the number of Eligible Shares held by the eligible Settlement Class Member and (ii) the "Per-Share Recovery" for the Settlement, which will be determined by dividing the total amount of the Net Settlement Fund by the total number of Eligible Shares. Settlement Class Members do not have to submit a claim form to receive a payment from the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs' Counsel's application for a Fee and Expense Award (including any Incentive Awards to Plaintiffs) in connection with the Settlement must be filed with the Register in Chancery in the Court of Chancery of the State of Delaware and served on Plaintiffs' Counsel and Defendants' Counsel such that they are received no later than September 8, 2026, in accordance with the instructions set forth in the Notice.
Please do not contact the Court or the Office of the Register in Chancery regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Settlement Administrator or Plaintiffs' Counsel.
Requests for the Notice should be made to the Settlement Administrator:
Quotient Stockholder Settlement
c/o A.B. Data, Ltd.
P.O. Box 170500
Milwaukee, WI 53217
Inquiries, other than requests for the Notice, should be made to the following counsel for Plaintiffs:
Thomas Curry
SAXENA WHITE P.A.
824 N. Market Street, Suite 1003
Wilmington, Delaware 19801
(302) 485-0483
tcurry@saxenawhite.com
Dated: May 21, 2026 | BY ORDER OF THE COURT OF |
1 Excluded Persons are certain persons and entities that are excluded from the Settlement Class by definition, as set forth in the full Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the "Notice"), available at www.QuotientStockholderSettlement.com. Any capitalized terms used in this Summary Notice that are not otherwise defined herein shall have the meanings given to them in the Notice.
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