Cardlytics agreed to pay Amit Jain $6.4 million to resolve indemnification claims tied to DailyGobble litigation and related insurance actions. The agreement also transfers Scottsdale actions to Cardlytics while allowing certain legal-fee advances and an insurance reimbursement effort to continue. For investors, the settlement fixes the stated amount while leaving those specified processes active.

Key Highlights

  • Cardlytics’ payment includes $5,250,000 for Jain’s DailyGobble settlement portion and $51,663.60 in associated borrowing costs.
  • The company had recorded a $6.5 million accrual as of June 30, 2026, including $5.3 million for the settlement and $1.2 million for attorney fees.
  • The September 4, 2026 agreement gives Cardlytics control of the Scottsdale insurance actions while Jain retains implied-covenant claims.

Cardlytics, Inc. (NASDAQ: CDLX) agreed to resolve Amit Jain’s indemnification claim for an aggregate $6.4 million, covering his portion of the DailyGobble settlement and related legal fees. The settlement agreement calls for an aggregate wire payment of $6,441,649.40 and transfers Jain’s rights in the Scottsdale insurance actions to Cardlytics.

$6.4M Settlement Covers DailyGobble Claims

Jain founded Bridg, served as its chief executive officer and director, and later became a former officer and director after Cardlytics acquired the company in 2021. Cardlytics had assumed certain indemnification obligations to Bridg’s former officers and directors. Jain filed a Delaware complaint on July 9, 2026, seeking advancement and indemnification connected with the DailyGobble Action and related Scottsdale Insurance Company coverage actions. The settlement payment consists of $5,250,000 for Jain’s allocated DailyGobble settlement amount, $51,663.60 in associated borrowing costs and $1,139,985.80 for Michelman’s legal fees incurred through the agreement date. Cardlytics said the aggregate settlement amount is consistent with its $6.5 million accrual as of June 30, 2026. That accrual included $5.3 million for the settlement and $1.2 million for attorney fees. Cardlytics is seeking insurance reimbursement that it believes applies to the matter. Jain assigned his rights, claims and potential recoveries in the Scottsdale actions to Cardlytics, giving the company sole authority to direct those proceedings. Cardlytics also agreed to advance certain reasonable legal fees and costs connected with the Scottsdale actions, the Delaware action and the DailyGobble settlement under the indemnification agreement and the applicable Delaware order.