SAN DIEGO, Sept. 15, 2019 /PRNewswire/ --
Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential violations of federal and state laws by Stamps.com Inc. ("Stamps") (STMP) and certain of its officers.
Earlier this year, a class action complaint was filed against Stamps and certain of its officers and directors. The lawsuit seeks to recover damages for Stamps investors under the federal securities laws. The class period is from May 3, 2017 and May 8, 2019. The complaint alleges that Stamps was reselling USPS products to small volume delivery companies, which was directly against the agreement between the two companies. When the Postal Services learned about this, it cut ties with Stamps, and as a result, the stock dropped 57%. Additionally, during the class period, Stamps engaged in a stock buy-back and during that time frame there were many instances of insider selling.
If you are a long-term shareholder of Stamps continuously holding shares before May 4, 2017, you may have standing to hold Stamps harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.