INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Stamps.com, Inc. Investors
BENSALEM, Pa., March 05, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces an investigation on behalf of Stamps.com, Inc. investors (“Stamps.com” or the “Company”) (NASDAQ: STMP ) concerning the Company and its officers’ possible violations of federal securities laws.
On February 21, 2019, Stamps.com announced that its key partnership with the U.S. Postal Service has ended. On an earnings call, Stamps.com’s chairman and Chief Executive Officer, Kenneth Thomas McBride stated that “We will no longer be exclusive to the USPS and that’s non-negotiable,” despite the fact that USPS-related business accounts for 87 percent of the Company’s revenue. The Company further announced that 2019 revenue was expected to decline 5.4%.
On this news, the Company’s 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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