LOS ANGELES, Feb. 1, 2021 /PRNewsCentre/ — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Quotient Technology Inc. ("Quotient" or "the Company") (NYSE: QUOT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Quotient reported its financial results for the third quarter of 2020 on November 5, 2020. The Company’s revenue fell short of consensus expectations, and it also reported, for the three and nine months ending September 30, 2020, "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." Based on this news, shares of Quotient fell by nearly 22% on the next day.
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SOURCE: The Schall Law Firm