Stamps.com 2008 Annual Report Download - page 19

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hearing and trial. The Court has vacated the trial date until the resolution of claim construction.
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TABLE OF CONTENTS
On August 8, 2008, PSI Systems, Inc. filed a lawsuit against us in the same court, alleging that we infringed three PSI
Systems patents related to Internet postage technology. PSI Systems seeks an injunction, unspecified damages, and attorneys’
fees. On September 16, 2008, we filed counterclaims for infringement of four more of our patents. In our counterclaim, we seek
an injunction, unspecified damages, and attorneys’ fees. This lawsuit is in the discovery stage. The Court has not scheduled a
trial commencement date.
In May and June 2001, we were named, together with certain of our current and former board members and/or officers, as a
defendant in 11 purported class-action lawsuits, filed in the U.S. District Court for the Southern District of New York. The
lawsuits allege violations of the Securities Act and the Exchange Act in connection with our initial public offering and a
secondary offering of our common stock. Plaintiffs seek damages and statutory compensation, including interest, costs and
expenses (including attorneys’ fees). We reached a proposed settlement which would not have required us to make any
payments, which was ultimately terminated in June 2007 after the U.S. Court of Appeals for the Second Circuit determined that
the class could not be certified as defined. Plaintiffs have filed an amended complaint and proposed an alternative class
definition in related litigation. If such a class definition does not receive final court approval and/or a later settlement is not
consummated for any reason, we intend to defend the lawsuits vigorously.
We are subject to various other routine legal proceedings and claims incidental to our business, or which involve primarily a
claim for damages that does not exceed 10% of our consolidated assets. We believe that the ultimate results from these actions
will not have a material adverse effect on our financial position, results of operations or cash flows.
Item 4. Submission of Matters to a Vote of Security Holders.
No matters were submitted to a vote of security holders during the quarter ended December 31, 2008.
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TABLE OF CONTENTS
PART II.
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Market Information
Our common stock is traded on The NASDAQ Stock Market under the symbol “STMP”. The following table sets forth the
range of high and low closing sales prices reported on The NASDAQ Stock Market for our common stock for the following
periods:
High
Low
Fiscal Year 2007
First Quarter $
17.05
$
13.94
Second Quarter $
15.35
$
12.88
Third Quarter $
14.27
$
11.41
Fourth Quarter $
13.88
$
11.56
Fiscal Year 2008
First Quarter $
12.06
$
8.61