Cardlytics, Inc. Settles Indemnification Claim with Bridg Founder for $6.4M

What Happened

• Cardlytics announced a Settlement Agreement dated September 4, 2026 with Amit Jain, the founder and former CEO/director of Bridg, resolving his advancement and indemnification claims. Mr. Jain had sued Cardlytics in the Delaware Court of Chancery (Case No. 2026-0896-TJF) after the Company assumed certain indemnification obligations in connection with its 2021 acquisition of Bridg.
• The settlement totals $6.4 million (Mr. Jain’s allocated portion of the DailyGobble settlement and related costs plus $1.1 million for legal fees). The underlying complaint (filed July 9, 2026) sought advancement/indemnification for fees tied to DailyGobble, Inc. v. Amit Jain, et al. (No. 22STCV15317, California Superior Court) and related insurance coverage matters. Cardlytics filed this Current Report on Form 8-K on September 11, 2026 and attached the Settlement Agreement as Exhibit 10.1.

Key Details

• Complaint filed: July 9, 2026 (Delaware Court of Chancery, Case No. 2026-0896-TJF).
• Settlement date: September 4, 2026; aggregate settlement amount: $6.4 million.
• Prior accrual: Company had recorded a $6.5 million accrual as of June 30, 2026 (comprised of ~$5.3M for the settlement and ~$1.2M for attorneys’ fees).
• Cardlytics is pursuing insurance reimbursement that it believes applies to this matter.

Why It Matters

• The settlement resolves a legal claim tied to Cardlytics’ 2021 Bridg acquisition and closes a source of potential future legal expense for the company.
• Financial impact: the $6.4M settlement is essentially consistent with the $6.5M accrual already recorded in Q2 2026, so the Company had previously recognized near the full amount on its books. Cardlytics’ pursuit of insurance reimbursement may offset some costs, per the filing.
• Investors: this removes an outstanding indemnification dispute from the company’s litigation docket and confirms the company’s prior financial recognition for the exposure.