Overstock, Gradient Analytics Reach Settlement

By Brendan Pierson

Law360, New York (October 13, 2008, 12:00 AM ET) -- Online retailer Overstock.com has settled a lawsuit it filed three years ago against financial analysis firm Gradient Analytics Inc. and several of its principals for allegedly issuing false, negative reports about Overstock for its own gain.

The companies announced the settlement on Monday but did not disclose any details.

Gradient admitted that it had issued mistaken reports about Overstock, wrongly concluding that some of its directors were not independent. It said that it has reviewed and improved its internal communication processes.

“Gradient regrets that the parties...
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