Stock Watch: Stamps.com Falls Amid Patent Dispute

Stamps.com (Nasdaq: STMP) fell 13/16 to 6 5/16 Monday after Pitney Bowes Inc. (NYSE: PBI) said it has sued the online postage company for patent infringement.

The Stamford, Connecticut-based Pitney Bowes alleges that Stamps.com is infringing on four shipping patents.

“We have attempted to reach a negotiated solution with Stamps.com to license use of Pitney Bowes’ patented inventions in their iShip product line,” said Michael E. Melton, deputy general counsel for the company. “In the absence of such an agreement, however, we have an obligation to take the necessary steps to protect our shareholders’ technology investments.”

According to Pitney Bowes, the disputed patents cover shipping and tracking processes, including the use of electronic data interchange (EDI) for tracking and rate information; accessing data from package carriers; storing registration information; and managing a carrier information system.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

How often do you receive an email that you suspect is fraudulent?
Loading ... Loading ...

LinuxInsider Channels