Overstock.com Gets Crypto-Dividends Suit Tossed

Law360 (September 29, 2020, 4:20 PM EDT) -- A Utah federal judge on Monday said home goods online retailer Overstock.com didn't manipulate the market, nixing a putative class action that alleged the e-commerce retailer lied about its future finances and issued digital token dividends to punish short sellers.

Investors, led by Mangrove Partners Master Fund, said that Overstock and its executives intentionally misstated its retail division's financial condition by repeatedly revising its retail earnings guidance upward. The investors said Overstock and its executives did so by not disclosing the company's inability to obtain director and officer liability insurance and by misrepresenting the purpose of a digital dividend that hurt...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!