Stamps.com (STMP) Enters Agreement to Resolve Suit Against Endicia, PSI Sytems; Shares Rise

Shares of Stamps.com (Nasdaq: STMP) have rallied more than 11 percent Thursday afternoon following a Form 8-K filing which disclosed the company entered into an agreement to resolve its suit vs. Endicia and PSI Systems. The parties agreed to a five-year period where each will not sue the other for patent infringement. No payments were made to any party as part of the settlement.

Stamps.com shares last traded at $27.30.

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