SEC Concludes That It Doesn’t Need to Kick Overstock.com on the Way Down

The financial gumshoes at the SEC have closed their investigation of Overstock.com and have concluded that no enforcement action is necessary. Naturally, former Arkham Asylum resident and current Overstock.com CEO Patrick Byrne sees this as a vindication:

"We are the ones who brought all these matters to light, we made the corrections, we fully disclosed these matters, and from the outset were confident that an investigation would not discover actionable conduct," Chairman and Chief Executive Patrick Byrne said in a press release. "Thus, we are pleased with this result." 

It does seem like the Commission is doing the nice thing here since the numbers show that the company is more or less doomed. See you on the next go round.

Overstock: SEC Closes 2009 Probe; No Enforcement Action Recommended [Dow Jones]

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.


Notice: Undefined index: orderby in /home/goingconcern/public_html/wp-content/themes/public-opinion/base/functions.php on line 844

Related articles

Jailed Ex-KPMG Executive Director Barred By the SEC Because Why Not?

Cynthia Holder, one of the “KPMG 5” who was sentenced to eight months in federal prison in August for her role in a scheme to steal confidential audit inspection information from the PCAOB, was “denied the privilege” of appearing or practicing before the SEC as an accountant, the commission announced on Nov. 29. The SEC […]

It’s That Time of Year When the SEC Gets Braggadocious

Now that the SEC is a little more than a month into its new fiscal year, the commission wanted to remind everyone that its enforcement division staff didn’t spend FY 2019 watching porn at work all day long. Yep, the SEC Division of Enforcement 2019 Annual Report is hot off the press, and in it […]