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Stamps.com Cuts $30M Deal To End Insider Trading Claims
Law360 (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.