Shareholder Investigation of Stamps.com
Stamps.com, Inc. (STMP) Accused of Inflating Revenue and Growth
According to the complaint, Stamps.com repeatedly touted its strong financial results and relationship with USPS. Yet, despite previous claims that its relationship with the postal service was “continuing to be stronger and stronger” and financial forecasts that the company would continue to grow, Stamps.com inexplicably announced in a conference call that it would walk away from its relationship with USPS—despite the fact that USPS-related business accounts for 87% of its revenue. On this news, Stamps.com’s stock plummeted over 50% to close at $83.65 on February 21, 2019. On February 26, it was reported that USPS, not Stamps.com, had decided to terminate the relationship in face of the Stamp.com’s increasing demands and abuse of the USPS’ reseller program.
Stamps.com, Inc. (STMP) Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can please send us a message via the Shareholder Information form below.