BOSTON, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, informs investors of new developments relevant to the pending securities class action against Overstock.com, Inc. (OSTK) and certain of the Company’s officers and directors.
On November 12, 2019, Overstock released its financial report for the third quarter of 2019 and announced disappointing results. Overstock said it had a net loss of $30.9 million, or 89 cents a share, in the quarter, after a loss of $47.9 million, or $1.55 a share, in the year-earlier period.
In addition, the Company disclosed that it received a subpoena from the SEC on October 7, 2019, requesting documents related to the so-called “digital dividend” that was announced to the Company’s shareholders in June of 2019. The subpoena requested the 10b-5-1 plans of Overstock’s officers and directors, and documents relating to the Company’s communications with its former chief executive officer and director, Patrick Byrne.
On this news, the Company’s share price slid 5% in premarket trading on November 12, 2019. Class members interested in serving as lead plaintiff in the pending litigation are required to move for appointment by November 26, 2019.
If you have purchased or otherwise acquired Overstock securities between May 9, 2019 and September 23, 2019 of this year, and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at email@example.com, or by visiting https://shareholder.law/ostk.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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