NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Utah on behalf of all persons or entities who purchased or otherwise acquired Overstock.com, Inc. (NASDAQ: OSTK) securities between August 3, 2017 and March 26, 2018 (the “Class Period”). Investors have until May 29, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Overstock’s foray into “blockchain technology” has been little more than a thinly veiled strategy to take advantage of the Bitcoin frenzy.
On March 1, 2018, Overstock announced that the Securities and Exchange Commission (SEC) had requested information about its initial coin offering. Following this news, the Company’s stock price fell $2.65 per share, or 4.4%, to close at $57.75 per share on March 1, 2018.
Then, on March 26, 2018, Overstock announced that it planned to offer 4,000,000 common stock shares in an underwritten public offering. Following this news, the Company’s stock price fell $6.68 per share, or approximately 15%, to close at $37.92 per share on March 27, 2018.
If you purchased or otherwise acquired Overstock securities and suffered a loss, continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Overstock.com, Inc. lawsuit, please go to http://www.bespc.com/overstock. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.