Overstock.com (OSTK) Lower After Disclosing SEC Investigation

Overstock.com (NASDAQ: OSTK) is down in pre-open trade after the company disclosed an SEC investigation in its Private Placement Offering Memorandum for tZero.

From the filing:

In February 2018, the Division of Enforcement of the SEC informed the Company that it is conducting an investigation in the matter Re: Overstock.com, Inc. (NY-9777) and requested that the Company voluntarily provide certain documents related to the Offering and the Tokens in connection with its investigation. The Company is in the process of responding to this document request and will cooperate with the SEC in connection with its investigation.

While the SEC is trying to determine whether there have been any violations of the federal securities laws, the investigation does not mean that the SEC has concluded that anyone has violated the law. Also, the investigation does not mean that the SEC has a negative opinion of any person, entity, or security.

You May Also Be Interested In

• Bergeron files proxy to challenge Ethan Allen board at 2026 meeting
• Albemarle names BHP executive Ragnar Udd as next CEO
• Net Power acquires 123 MW natural gas generation rights for Project Permian