What Is Overstock's CEO Afraid Of? - trackseekingalpha

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What Is Overstock's CEO Afraid Of?
Nov 04, 2009 03:52 PM UTC

trackseekingalpha

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Via Short Stock Ideas from Seeking Alpha:

Patrick Byrne is afraid to answer questions about Overstock.com's (NASDAQ: OSTK) continuous violations of Generally Accepted Accounting Principles (GAAP) and SEC disclosure rules. Because of those violations, Overstock.com's current financial reports cannot be accurately compared to reports in corresponding prior periods.

In its latest Q3 2009 financial report Overstock.com disclosed a new inquiry by SEC’s Division of Corporation Finance regarding its 2008 Form 10-K/A (amended 10-K report) and its June 30, 2009 Form 10-Q. The company did not disclose the nature of that inquiry.

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