Overstock.com Investor Seeks Docs On CEO's Cash-And-Run
Law360 (March 11, 2020, 10:00 PM EDT) -- An Overstock.com investor filed a lawsuit in Delaware Chancery Court on Wednesday seeking records related to alleged wrongdoings by the company's founder and former CEO before he cashed out on $90 million in stock and fled the country.
Stockholder John Murphy said he is seeking the records under Section 220 of Delaware General Corporation Law to investigate possible breaches of duty by company directors in connection with actions by the Utah-based online retailer's former President and CEO Patrick M. Byrne.
"This action seeks corporate books and records to investigate Byrne's and the board's role in what appears to be a scheme...
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