SAN FRANCISCO, Sept 17 (Reuters) – Inc ( OSTK. ) stated on Thursday the U.S. Securities & Exchange Commission had notified it of another investigation into the Internet retailer’s history of monetary restatements.
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Jonathan Johnson is the chairman of the board of Overstock and the president of Medici Ventures, the Overstock subsidiary centered on advancing blockchain know-how in financial programs and beyond.
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After initially relying solely on word-of-mouth advertising and marketing from clients, 12 the company turned to distinctive tv commercials starring German actress Sabine Ehrenfeld thirteen 14 Later, they’d employ other promoting spokespersons.
THE TROUTMAN TAKEAWAY: The 2014 Overstock determination presaged a wave of class action litigation in opposition to retailers. Dozens of complaints have been filed alleging that retailers displayed false former costs or made misleading comparisons to their rivals’ prices. J.C. Penney settled a class motion alleging that it marketed false regular” and unique” prices for $50 million and there have been other multi-million dollar settlements. A slew of cases have additionally alleged that retailers’ outlet stores made deceptive comparisons to prices charged on completely different, increased high quality merchandise at the retailers’ mainline stores. As these class actions continue to be filed, the choice in the Overstock appeal is a reminder that state and native regulators also have … Read more
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In 2010, eight California counties sued Overstock alleging that Overstock engaged in unfair business practices and false promoting beneath California law. The case went to a bench trial in September 2013. The record at trial confirmed that, at various times, … Read more
NEW YORK, Dec eight (Reuters) – A hedge fund is paying $5 million to settle a protracted-operating lawsuit filed by online retailer ( OSTK. ), the Salt Lake City-based firm stated Tuesday.
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