STMP - NASDAQ: STMP Investor Notice: Update in Lawsuit against Stamps.com Inc. announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / August 27, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in NASDAQ: STMP shares.

Investors, who purchased shares of Stamps.com Inc. (NASDAQ: STMP) in April 2017 or earlier and continue to hold NASDAQ: STMP shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 21, 2019, Stamps.com Inc released its fourth quarter financial results. In a related conference call, Stamps.com’s CEO Kenneth Thomas McBride disclosed that Stamps.com Inc would no longer have an exclusive partnership with the United States Postal Service: “The USPS has not agreed to accept these terms or any other terms of our partnership proposal. So at this point we decided to discontinue our shipping partnership with the USPS so that we can fully embrace partnerships with other carriers who we think will be well-positioned to win in the shipping business in the next five years.”

On February 28, 2019, a lawsuit was filed against Stamps.com Inc. (NASDAQ: STMP. over alleged violations of Federal Securities Laws. The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that the Company’s financial results depended on the manipulation of a USPS program that cost USPS an estimated $235 million per year, and that) as a result, the Company’s business was unsustainable and its financial results were highly misleading. On August 5, 2019, an amended complaint was filed.

Those who purchased Stamps.com Inc. (NASDAQ: STMP) shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.