Overstock along with Its Former CEO and CFO Sued for Securities Fraud
An investor from Canada has sued Overstock along with its ex-CEO and ex-CFO for securities fraud. He says that the company made false statements and manipulated the stock price.
Overstock works together with PRO Securities to present new blockchain-related technology.
An investor from Canada has sued Overstock along with its ex-CEO and ex-CFO for securities fraud. He says that the company made false statements and manipulated the stock price.
The board of Overstock.com has appointed Jonathan Johnson as the company’s CEO. He had been serving as interim CEO since company founder Patrick Byrne stepped down last month.
In recent news, Patrick Byrne, the former CEO of Overstock, has sold all his Overstock equity holdings worth about $90 million to shift his investments to different assets like precious metals and cryptocurrencies.
A subsidiary of Overstock, tZERO, has announced that they are hired by GSR Capital, a private equity company, in order to develop a new crypto token which will be used specifically for trading cobalt. The deal is to be closed by February 2019.
If Overstock.com fulfils the public offering it plans, its shareholders will get an opportunity to buy blockchain or traditional stock.
While R3 CEV blockchain consortium attracts new members, Overstock.com’s CEO Patrick Byrne warns that the initiative can stifle innovation.
Various sources close to Overstock say that the U.S. Securities and Exchange Commission has approved a S-3 filing for Overstock.com to issue new publicly traded shares on the Bitcoin blockchain.
The new platform tØ promises to change financial market by enabling instantaneous transactions.
Overstock works together with PRO Securities to present new blockchain-related technology.
Patrick Bryne, well-known bitcoin supporter, will start working for the presidential campaign of Senator Rand Paul.