Stamps.com CEO, Board to Settle Kickback Claims for $30 Million

Senior leaders at Stamps.com Inc., which is set to be acquired for $6.6 billion by Thoma Bravo LLC, will pay $30 million to resolve claims they hid a kickback scheme involving a U.S. Postal Service “reseller program” while some of them sold stock at inflated prices, according to a Delaware Chancery Court filing.

The settlement would also buy the officers and directors an exit from a parallel derivative case currently paused in a Delaware federal court and from a proposed federal securities class action in Los Angeles that the company recently agreed to settle on a conditional basis, according to ...