Glancy Prongay & Murray LLP (GPM) announces an investigation on behalf of Stamps.com, Inc. (Stamps.com or the Company) (NASDAQ: STMP) investors concerning the Company and its officers possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
On February 21, 2019, Stamps.com announced that its key partnership with the U.S. Postal Service has ended. On an earnings call, Stamps.coms chairman and Chief Executive Officer Kenneth Thomas McBride stated that, We will no longer be exclusive to the USPS and thats non-negotiable, despite the fact that USPS-related business accounts for 87 percent of the Companys revenue. The Company further announced that 2019 revenue was expected to decline 5.4%.
On this news, the Companys stock fell $114.43, or nearly 58%, to close at $83.65 on February 22, 2019, thereby injuring investors.
If you purchased Stamps.com securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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