According to the Complaint, Stamps.com, Inc. is a provider of Internet-based mailing and shipping solutions in the United States. Under the Stamps.com and Endicia brands, Stamps.com customers use USPS solutions to mail and ship a variety of mail pieces and packages through the USPS and customers using Stamps.com solutions receive discounted postage rates compared to USPS.com and USPS retail locations on certain mail pieces.

The Complaint alleges that during the Class Period, Defendants violated provisions of the Exchange Act by making false and/or misleading statements and/or failing to disclose that: (i) the Company’s financial results depended on the manipulation of a USPS program that cost USPS an estimated $235 million per year; and (ii) as a result, the Company’s business was unsustainable and its financial results were highly misleading.

This case was voluntarily dismissed on April 12, 2019. A related case continues under Docket 19-CV-01828.

On June 5, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on August 5. Defendants filed a Motion to Dismiss the consolidated Complaint on October 4. On January 17, 2020, the Court issued an Order denying Defendants' Motion to Dismiss.

On June 29, 2020, Lead Plaintiff filed a Motion for Class Certification. The Court granted the Motion for Class Certification on November 9.

The parties notified the Court that they had reached a Settlement agreement in principle on June 4, 2021. On August 16, the parties entered into a Stipulation of Settlement. On October 14, the Court granted preliminary approval of the Settlement. On March 17, 2022, the Court approved the award of attorneys' fees and expenses to Lead Plaintiff's counsel. On the same date, the Court granted final approval of the Settlement and entered Final Judgment.