Cardlytics, Inc. has entered into a settlement agreement with Amit Jain, the founder and former Chief Executive Officer and director of Bridg, Inc., resolving a legal dispute regarding indemnification obligations assumed by Cardlytics following its 2021 acquisition of Bridg.
The dispute centered on claims for advancement and indemnification related to fees and expenses incurred by Mr. Jain in connection with a legal action captioned DailyGobble, Inc. v. Amit Jain, et al. in the Superior Court of California. This action was resolved through a settlement under which Mr. Jain’s allocated portion was approximately $5.3 million. The claim also included related insurance coverage actions involving Scottsdale Insurance Company.
Under the settlement agreement executed on September 4, 2026, Cardlytics agreed to pay Mr. Jain an aggregate amount of $6.4 million. This total consists of Mr. Jain’s $5.3 million allocated portion of the DailyGobble settlement and associated costs, plus $1.1 million to satisfy legal fees incurred related to the DailyGobble Action.
This settlement amount is consistent with the $6.5 million accrual previously recorded by the Company as of June 30, 2026, as disclosed in its Quarterly Report on Form 10-Q for the second quarter of 2026. The Company stated that it is seeking insurance reimbursement that it believes should apply to this matter.
