CURRENT SHAREHOLDERS: Zamansky LLC Investigates Overstock.com Inc. (OSTK) for Potential Breaches of Fiduciary Duties
September 26 2019 - 1:21PM
Business Wire
Zamansky LLC announces that it is investigating Overstock.com
Inc. (OSTK) (“Overstock” or the “Company”) for potential breaches
of fiduciary duties by Overstock’s senior officers and board of
directors. If you are a shareholder of Overstock who still holds
your shares, please contact our firm for information.
As Seeking Alpha wrote on September 10, 2019, investors have
been speculating that the resignation of Overstock’s CEO Patrick
Byrne in August 2019 may “indicate that a serious SEC enforcement
action could be forthcoming.” The precise details of the SEC
investigation have not been revealed, but shareholders can
independently investigate the matter to protect their rights. After
Overstock repeatedly hyped its blockchain business for years,
investors have been harmed as that business is reportedly
“hemorrhaging money.” Investors have cause for concern because in
recent days, Overstock’s current interim CEO Jonathan Johnson
announced that the Company has “spent a king’s ransom” to process
the SEC’s requests for information, and former CEO Patrick Byrne
announced that he completely “sold all of his 10-plus percent stake
in Overstock.”
According to Jake Zamansky, investment fraud attorney,
Overstock’s officers and directors owe the Company and its
shareholders fiduciary duties. “The recent announcements regarding
SEC investigations and other related issues raise potential concern
for investors,” Zamansky says. “Our law firm is investigating
whether the officers and directors have breached their duties to
Overstock and its shareholders.”
What Overstock Shareholders Can Do
If you are a current shareholder of Overstock who still holds
your stock, please contact us to review or discuss your legal
rights. You may, without obligation or cost to you, email
jake@zamansky.com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with
experience handling securities, hedge fund, ERISA and other
shareholder class action and derivative litigation. We are
investment fraud attorneys who represent both individual and
institutional investors. Our practice is nationally recognized for
our ability to aggressively prosecute cases and recover investment
losses.
To learn more about Zamansky LLC, please visit our website,
http://www.zamansky.com.
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Zamansky LLC 50 Broadway - 32nd Floor New York, NY 10004 Jake
Zamansky, 212-742-1414 jake@zamansky.com
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