Overstock Must Pay Del. $7.3M For Unreported Card Balances
By Jeff Montgomery (July 10, 2019, 9:03 PM EDT) -- Online retailer Overstock.com faces a triple damages sanction of nearly $7.27 million for concealing abandoned gift card balances from Delaware's revenue agency, with a ruling still to come on $3.5 million in attorney fees and expenses, according to a final order made public Wednesday.
Delaware Superior Court Judge Paul R. Wallace issued the final version of his ruling 10 months after a jury in the court's Complex Commercial Litigation Division found the company directly liable for nearly $3 million following a six-day whistleblower trial. He had delayed the triple damages calculation after the jury arrived at the initial damages amount....
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