Stamps.com Inc. (NASDAQ: STMP) Investor Securities Class Action Lawsuit 02/28/2019

If you purchased a significant amount of shares of Stamps.com Inc. (NASDAQ: STMP) between between May 3, 2017 and February 21, 2019, and / or if you purchased any NASDAQ: STMP shares prior to between May 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: April 29, 2019. NASDAQ: STMP investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Stamps.com
Case Name: 
Stamps.com Shareholder Class Action Lawsuit 02/28/2019
Case Status: 
Lawsuit Filed
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/28/2019
Class Period Begin: 
05/03/2017
Class Period End: 
02/21/2019
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
04/29/2019
Summary: 

An investor in shares of Stamps.com Inc. (NASDAQ: STMP) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Stamps.com Inc. in connection with certain allegedly false and misleading statements made between May 3, 2017 and February 21, 2019.

El Segundo, CA based Stamps.com Inc. provides Internet-based mailing and shipping solutions in the United States. Stamps.com Inc. reported that its annual Total Revenue rose from $364.30 million in 2016 to $468.7 million in 2017 and that its Net Income increased from $75.22 million in 2016 to $150.6 million in 2017.

Shares of Stamps.com Inc. (NASDAQ: STMP) reached as high as $285.75 per share in June 2018.

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.”
Shares of Stamps.com Inc. (NASDAQ: STMP) declined to as low as $82.40 per share on February 22, 2019.

On February 26, 2019, NASDAQ: STMP shares closed at $97.23 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Stamps.com Inc. (NASDAQ: STMP) common shares between May 3, 2017 and February 21, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 3, 2017 and February 21, 2019, 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.