Stamps.com Inc.'s CEO must face claims that he sold stock at prices inflated by the company’s scheme to hide a kickback scam involving the U.S. Postal Service’s “reseller program,” but a Delaware Chancery Court judge narrowed the lawsuit against the company’s senior leaders.
Chancellor Andre G. Bouchard let a pension fund move forward with insider selling claims against chairman-CEO Kenneth T. McBride and two other board members in a brief order docketed Thursday, about a week after he announced the ruling from the bench during a teleconference.
Bouchard tentatively approved similar allegations against the company’s top officers, although the Macomb ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.