LOS ANGELES, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Quotient Technology, Inc. ("Quotient" or the "Company") (NYSE: QUOT) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether Quotient issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On November 5, 2020, Quotient reported its financial results for the third quarter of 2020. Quotient’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." Shares of Quotient fell by nearly 22% on the next day, based on this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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