A lawsuit was filed on behalf of investors in Overstock.com Inc (NASDAQ:OSTK) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 04/10/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Overstock.com Inc (NASDAQ:OSTK), filed a lawsuit over alleged violations of Federal Securities Laws by Overstock.com Inc.
Investors in shares of Overstock.com Inc (NASDAQ:OSTK) have certain options and for certain investors are short and strict deadlines running. Deadline: May 29, 2018. NASDAQ:OSTK investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On December 18, 2017, Overstock announced that its Medici Ventures ("Medici") business and tZERO trading system was engaging in a $250 million coin offering.
On March 1, 2018, Overstock.com Inc announced that the Securities and Exchange Commission ("SEC") is investigating the Company's blockchain platform, tZERO.
On March 15, 2018, Overstock.com Inc stated that "the investigation could result in a delay of the tZero security token offering, negative publicity for tZero or us, and may have a material adverse effect on us or on the current and future business ventures of tZero." Overstock.com Inc also disclosed that the SEC was conducting an examination of advisers at tZERO. Further, it was revealed that Medici had lost $22 million for 2017, despite the fact that Bitcoin prices increased by 1,375% during that time.
The plaintiff claims that between August 3, 2017 and March 26, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that Overstock's coin offering was highly problematic and potentially illegal, and that the Company's Medici business was hemorrhaging money.
Those who purchased shares of Overstock.com Inc (NASDAQ:OSTK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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