--- schema_version: "secwatch.filing_event.v1" accession: "0001140361-23-045117" form_type: "8-K" ticker: null cik: "0001729750" company_name: "Kubient, Inc." filed_at: "2023-09-25T23:59:59+00:00" generated_at: "2026-06-10T09:16:47.660506+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.95 calibrated_materiality_score: 0.95 confidence: "high" source: SEC EDGAR --- # Kubient auditor Marcum resigns, withdraws reports; CEO placed on leave ## Summary - Marcum resigned as auditor effective Sept 20, 2023, withdrawing reports for FY 2020–2022 and declining association with subsequent quarterly statements. - Board concludes previously issued financial statements for FY 2020–2022 and quarters through Mar 31, 2023 should no longer be relied upon. - CEO Paul Roberts placed on paid administrative leave pending internal investigation; resigned as Chairman and board member effective Sept 22. - Elisabeth DeMarse appointed Interim CEO and President; Lawrence Harris rejoins board to fill vacancies. - Quantitative impact of restatements still being determined; company actively seeking a new auditor. ## SEC filing metadata - accession: 0001140361-23-045117 - form_type: 8-K - cik: 0001729750 - company_name: Kubient, Inc. - filed_at: 2023-09-25T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.95 - calibrated_materiality_score: 0.95 - confidence: high - sec_items: 4.01, 4.02, 5.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/0001140361-23-045117-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/ef20011231_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001140361-23-045117 - JSON: https://secwatch.observer/filing/0001140361-23-045117.json - Plain text: https://secwatch.observer/filing/0001140361-23-045117.txt ## Key facts - Auditor Changes Marcum LLP resigned as auditor of Kubient, Inc.. - Action: resignation - Auditor: Marcum LLP source text: On September 14, 2023, Marcum LLP (“Marcum”) called Kubient, Inc. (the “Company”), and then subsequently provided a written letter on September 19, 2023 notifying the Company that Marcum is resigning as the Company’s independent registered accounting firm. Marcum’s letter stated that Marcum is withdrawing its reports dated March 29, 2021, March 30, 2022, and March 30, 2023, respectively, on the Company’s financial statements as of and for each of years ended December 31, 2020, 2021 and 2022, respectively, included in the Company’s annual reports on Form 10-K for the years ended December 31, 2020, 2021 and 2022, respectively. On September 20, 2023, Marcum sent a second, amended letter to the Company notifying the Company that Marcum is withdrawing its reports dated March 29, 2021, March 30, 2022, and March 30, 2023, respectively, on the Company’s financial statements as of and for eac evidence_url: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/0001140361-23-045117-index.htm - Executive change Elisabeth DeMarse was appointed as Interim Chief Executive Officer and President at Kubient, Inc.. - Action: appointed - Role: Interim Chief Executive Officer and President source text: During Mr. Robert's absence, Elisabeth DeMarse, who will remain as a member of the Board, will also serve as Interim Chief Executive Officer and President of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/0001140361-23-045117-index.htm - Executive change Paul Roberts resigned as Chairman of the Board at Kubient, Inc.. - Action: resigned - Role: Chairman of the Board source text: Mr. Roberts also resigned from his position as Chairman and member of the Board pending the internal investigation. The Board accepted Mr. Robert's resignation effective as of September 22, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/0001140361-23-045117-index.htm - Executive change Lawrence Harris was appointed as Member of the Board, Chairman of the Nominating and Corporate Governance Committee at Kubient, Inc.. - Action: appointed - Role: Member of the Board, Chairman of the Nominating and Corporate Governance Committee source text: on September 25, 2023, the Board appointed Lawrence Harris as a member of the Board, Chairman of the Nominating and Corporate Governance Committee, as well as a member of the Board's Audit, Compensation, Nominating and Corporate Governance, and Special Committees. evidence_url: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/0001140361-23-045117-index.htm - Executive change Paul Roberts departed as Chief Executive Officer at Kubient, Inc.. - Action: placed on administrative leave - Role: Chief Executive Officer source text: On September 22, 2023, the Board placed Paul Roberts on paid administrative leave from his positions as Chief Executive Officer, Chief Strategy Officer, and President of the Company pending an internal investigation conducted by outside legal counsel on behalf of a special committee of the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1729750/000114036123045117/0001140361-23-045117-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.