The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Utah on behalf of investors who purchased Overstock.com, Inc. (NASDAQ: OSTK) securities between August 3, 2017 and March 26, 2018.
According to the OSTK lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Overstock's coin offering was problematic and potentially illegal; and (2) the company's Medici business was hemorrhaging money. When the true details entered the market, the lawsuit claims that investors suffered damages. On March 1, 2018, Overstock revealed that the Securities and Exchange Commission ("SEC") had requested information about its initial coin offering. Then, on March 15, 2018, Overstock announced that "the investigation could result in a delay of the tZero security token offering, negative publicity for tZero or us, and may have a material adverse effect on us or on the current and future business ventures of tZero." Overstock also said that the SEC was examining the advisers at tZero.
If you suffered a loss in Overstock.com, Inc. you have until May 29, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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