NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 29, 2019 to file lead plaintiff applications in a securities class action lawsuit against Stamps.com, Inc. (NasdaqGS: STMP), if they purchased the Company’s shares between May 3, 2017 and February 21, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Stamps.com and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-stmp/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 29, 2019.
About the Lawsuit
Stamps.com and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 21, 2019, the Company announced its 4Q and FY 2018 financial results, also disclosing the termination of its shipping partnership with the U.S. Postal Service, a vital relationship that accounts for approximately 87 percent of the Company’s revenue, and that revenue for 2019 was expected to decrease by 5.4%.
On this news, the price of Stamps.com’s shares plummeted.
The case is Grabisch v. Stamps.com, Inc., 19-cv-01497.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.