An investigation on behalf of investors of Quotient Technology Inc. (NYSE: QUOT) shares over potential securities laws violations by Quotient Technology Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Quotient Technology Inc. (NYSE: QUOT) concerning whether a series of statements by Quotient Technology Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Mountain View, CA based Quotient Technology Inc., a digital marketing company, provides technology and services that offers power integrated digital promotions and media programs for consumer packaged goods (CPGs) brands and retailers. Quotient Technology Inc. reported that its annual Total Revenue rose from $286.95 million in 2018 to $436.16 million in 2019, and that its normalized Loss increased from $18.68 million in 2018 to $35.51 million in 2019.

On November 5, 2020, Quotient Technology Inc. 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 Technology Inc. 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 retailers failure to perform certain obligations related to a guaranteed distribution fee arrangement for both respective periods.

Shares of Quotient Technology Inc. (NYSE: QUOT) declined from $9.88 per share on November 5, 2020, to as low as $6.96 per share on November 12, 2020.