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Feb. 12, 2020, 7:52 a.m. EST

(STMP) Alert: Johnson Fistel Announces Shareholder Class Action Against Stamps.com Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses?

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SAN DIEGO, Feb 12, 2020 (GLOBE NEWSWIRE via COMTEX) -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential violations of federal and state laws by Stamps.com Inc. ("Stamps") /zigman2/quotes/202777086/composite STMP -0.61% and certain of its officers.

In 2019, a Securities Class Action Complaint was filed on behalf of those who purchased securities of Stamps, between May 3, 2017 and May 8, 2019. Recently, the class action lawsuit survived the Defendants' attempts to have the case dismissed.

According to the lawsuit, 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 lawsuit claims that investors suffered damages.

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 (jimb@johnsonfistel.com) at 619-814-4471. If you email, please include your phone number.

Additionally, you can [Click here to join this action]. There is no cost or obligation to you.

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.

Contact:

Johnson Fistel, LLP

Jim Baker, 619-814-4471

jimb@johnsonfistel.com

[Click here to join this action].

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(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.

/zigman2/quotes/202777086/composite
US : U.S.: Nasdaq
$ 196.95
-1.20 -0.61%
Volume: 6,885
June 1, 2020 9:40a
P/E Ratio
59.12
Dividend Yield
N/A
Market Cap
$3.39 billion
Rev. per Employee
$497,820
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