PBPitney Bowes to pay $9.4 Million for Underpaid Postage

Pitney Bowes is paying $9.4 million following a U.S. Department of Justice and U.S. Postal Service inquiry into whether it underpaid postage for mail processed at a facility in Reading, Pa., by claiming discounts to which it was not entitled.

Pitney Bowes (NYSE: PBI) is based in Stamford, with its Pitney Bowes Presort Services unit operated as a subsidiary based in Omaha, Neb. In the second quarter, presort service revenue totaled $113.9 million, up 2 percent from a year earlier.

“Pitney Bowes has reached a civil settlement agreement with the United States that resolves allegations made years ago at a particular mail processing site for a particular postage requirement without admission of liability,” stated Pitney Bowes spokesman Brett Cody. “We value our ongoing partnership with the United States Postal Service, and look forward to continuing to deliver high-quality products and solutions to our valued clients.”

For full story, please go to :-http://www.stamfordadvocate.com/business/article/Pitney-Bowes-sanctioned-by-USPS-DOJ-6568613.php

Story by Alex Soule - Alex.Soule@scni.com