Overstock To Pay $6.8M For Falsely Advertising Sale Prices

Law360, New York (February 21, 2014, 5:53 PM EST) -- A California judge ordered Internet retailer Overstock.com to pay more than $6.8 million to settle claims that it falsely advertised the original list price of its products, deceiving California customers into thinking they were getting a bigger discount, state prosecutors said Thursday.

Alameda County Superior Court Judge Wynne S. Carvill ruled Wednesday that the retailer displayed reference prices, or list prices, that were created using a formula based on prices of similar products, and not the actual product, in order to overstate the amount customers were...
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