LegalSep 11, 2026, 09:09 AM
Cardlytics Settles Legal Claim for $6.4 Million with Bridg Founder Jain
AI Summary
Cardlytics, Inc. has entered into a settlement and release agreement with Amit Jain, the founder and former CEO of Bridg, Inc., to resolve a legal claim for $6.4 million. The settlement covers Mr. Jain's portion of a prior settlement in the DailyGobble Action ($5.3 million) and associated legal fees ($1.1 million). This amount is consistent with the company's previously disclosed accrual. Cardlytics is also seeking insurance reimbursement for these costs and has assumed indemnification obligations related to the Bridg acquisition.
Key Highlights
- Cardlytics settled a legal claim with Amit Jain for $6.4 million.
- The settlement resolves claims related to the acquisition of Bridg, Inc.
- The settlement amount includes $5.3 million for the DailyGobble Action and $1.1 million for legal fees.
- Cardlytics assumed indemnification obligations for former Bridg officers and directors.
- Amit Jain filed a lawsuit seeking advancement and indemnification for fees and expenses.
- Cardlytics is seeking insurance reimbursement for the settlement costs.
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