Overstock.com “Overjoyed” By SEC Subpoenas

Law360, New York (May 10, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has subpoenaed online retailer Overstock.com in its ongoing probe into allegations of naked short selling, and the company couldn’t be happier, according to CEO Patrick Byrne.

“I may be the first CEO in history to celebrate receiving an SEC subpoena. Some of the requests suggest the whispering of the blackguards, but I remain unconcerned about their hokum,” Byrne said.

The chief executive, who is known for speaking his mind on issues related to naked short selling, said that the subpoena...
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