* Rocker accused of campaigning to pressure share price
* Overstock CEO an outspoken critic of short-sellers
NEW YORK Dec 8 A hedge fund is paying $5
million to settle a long-running lawsuit filed by online
retailer Overstock.com (OSTK.O), the Salt Lake City-based
company said Tuesday.
The settlement comes some four years after Overstock sued
the hedge fund, once known as Rocker Partners, claiming it
waged a campaign to drive down the company's share price. The
lawsuit was championed by Overstock CEO Patrick Byrne, who has
been an outspoken and controversial critic of short sellers, or
traders who bet on a stock's decline.
Overstock said in a news release the hedge fund will pay it
$5 million to settle the matter. Rocker Partners was then known
as Copper River Partners. Copper River closed last December.
The company said it could not provide a copy of the
settlement from the lawsuit, which was filed in California
state court. An attorney for the hedge fund was not immediately
available for comment.