Stamps.com Cuts $30M Deal To End Insider Trading Claims
By Dorothy Atkins (July 23, 2021, 11:08 PM EDT) -- Stamps.com cut a $30 million deal with investors to settle derivative lawsuits over insider trading claims and allegations the shipping company abused the U.S. Postal Service's postage reselling rules for years, according to court documents filed in Delaware Chancery Court on Friday.
In a 49-page stipulation, the investors and the El Segundo, California-based company, along with a dozen individual defendants, informed the court they cut a deal under which the defendants' insurers will pay $30 million in cash to the company for corporate reforms and "general corporate purposes."
From the settlement pot, the investors' counsel will also seek a fee and...
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