Overstock.com says SEC probe ended

NEW YORK, June 6 Fri Jun 6, 2008 9:50am EDT

NEW YORK, June 6 (Reuters) - Overstock.com Inc (OSTK.O) said on Friday that regulatory authorities have completed an investigation into the company and do not intend to recommend any action against it or its officers.

The site, which sells excess inventory of clothing, accessories and furniture, said it was informed of the development by the Regional Director of the Salt Lake District Office of the U.S. Securities and Exchange Commission.

The SEC had been probing Overstock.com and its officials and sent the company a subpoena in 2006, asking for information related to its accounting policies, targets, projections, estimates, and restatements. (Reporting by Aarthi Sivaraman, editing by Gerald E. McCormick)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.