Did You Acquire Overstock Before May 9, 2019? Johnson Fistel Alerts Long-Term Investors of Class Action Lawsuit Against Overstock.com, Inc.
SAN DIEGO- PRNewswire —October 3, 2019
Shareholder rights law firm Johnson Fistel, LLP reminds investors that a class action lawsuit has been filed against Overstock.com, Inc. (NASDAQ: OSTK) (“Overstock” or the “Company”) on behalf of all purchasers of common stock during the period between May 9, 2019 through September 23, 2019, inclusive (the “Class Period”).
If you wish to serve as a lead plaintiff, and had losses greater than $100,000, you must move the Court no later than November 26, 2019. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies.
The lawsuit claims that following months of media reports on the erratic behavior of founder Patrick Byrne, who resigned as CEO in August 2019 and subsequently sold over $91.98 million worth of company stock within a three day period, the company later disclosed the sudden and unexpected departure of CFO Gregory Iverson the week prior, and that the company would lower guidance to break-even EBITDA for the year, eliminating the projected $17.5 million that Overstock had recently provided and which was critical to support the launch of its tZERO service.
If you are a long-term shareholder of Overstock continuously holding shares before May 9, 2019, you may have standing to hold Overstock harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
[click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.