CLASS ACTION UPDATE: Law Office of Brodsky & Smith, LLC Reminds Investors of Approaching Deadline in Class Action Against Overstock.com, Inc. (Nasdaq: OSTK)

BALA CYNWYD, November 14 2019 /Access Wire/ – Law office of Brodsky & Smith, LLC reminds investors of the deadline to file to be a lead plaintiff regarding claims against Overstock.com, Inc. (“Overstock” or the “Company”) (Nasdaq: OSTK- News) for possible breaches of Federal Securities law.

According to the complaint, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) it was not true that Overstock would be able to support the launch of its tZERO cryptocurrency with earnings or cash flow from its Retail operations; (ii) the foreseeable likelihood that Overstock’s ability to accomplish its intended short squeeze would embolden the SEC or even market participants, such as major brokerage houses, to act to prevent this market manipulation; (iii) it was also not true that Overstock contained adequate systems of internal operational or financial controls; and (iv) the defendants lacked any reasonable basis to claim that Overstock was operating according to plan, or that Overstock could achieve guidance sponsored and/or endorsed by defendants.

Notably, on November 12, 2019, the Company advised that the Securities and Exchange Commission subpoenaed the company in October requesting documents relating to its plan to offer a digital dividend. In a filing with the SEC, the Company said it also received requests regarding its communications with former Chief Executive Patrick Byrne, who resigned dramatically in August amid claims of involvement in political conspiracies. With the release of this news and the Company’s most recent financial reporting, shares slid another 5%.

If you purchased shares of Overstock between May 9, 2019, and September 23, 2019 and wish to discuss the legal ramifications of  the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is November 26, 2019. You may contact Marc Ackerman, Esquire or Jordan Schatz, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting, or by calling toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.