04-20-2008, 07:09 AM
Overstock's advertising practices are under investigation:
full article: http://seekingalpha.com/article/72960-ov...rying-news
more:
full article: http://www.bloggingstocks.com/2008/04/19...californi/
Quote:The fascinating corporate basket case Overstock.com (OSTK), and its dipsy doodle CEO Patrick Byrne, have engaged in a flurry of activity in recent days. Byrne has been doing stuff that didn't seem quite rational -- like moving the Antisocialmedia.net corporate smear site to the Overstock website.
Now we know why: Overstock is the target of yet another investigation, this one a grave criminal probe by not one but five counties in northern California. That's on top of the active probe of its accounting that has been slowly chugging away by the SEC for the past two years...
full article: http://seekingalpha.com/article/72960-ov...rying-news
more:
Quote:Byrne is usually proud of the company's failures, but the announcement of the latest law enforcement investigation was buried deep in a press release about the latest set of quarterly losses: On April 15, 2008, we received a letter from the Office of the District Attorney of Marin County, California, stating that the District Attorneys of Marin and four other counties in California have begun an investigation into the way we advertise products for sale, together with an administrative subpoena seeking related information and documents. We follow industry advertising practices and we intend to respond fully to the subpoena and cooperate with the investigation...
full article: http://www.bloggingstocks.com/2008/04/19...californi/