Key Developments For Overstock.com, Inc.
Overstock.com, Inc. (OSTK.O) (Consolidated Issue listed on NASDAQ Global Market)
Overstock.com, Inc. Announces Receipt Of Another SEC Subpoena
Overstock.com, Inc. announced that it has received a notice dated September 15, 2009 from the Securities and Exchange Commission stating that the Commission is conducting an investigation concerning Overstock's previously announced restatements of its financial statements in 2006 and 2008 and other matters. The subpoena accompanying the notice covers documents related to the restatements and also to Overstock's billings to its partners in the fourth quarter of 2008 and related collections, and Overstock's accounting for and implementation of software relating to its accounting for customer refunds and credits, including offsets to partners, and related matters. Overstock intends to cooperate fully with the investigation.
Overstock.com, Inc.'s Shelf Registration Statement Declared Effective
Overstock.com, Inc. announced that its new shelf registration statement on Form S-3 has been declared effective by the Securities and Exchange Commission. The registration statement replaces the Company's existing shelf registration statement, which would have expired later this year. The registration allows the Company to offer its securities covered by the registration statement from time to time over the next three years for aggregate proceeds of up to $500 million. The terms of any future offering under the shelf registration statement will be established at the time of the offering.
Coinstar, Inc. And Overstock.com Team Up To Offer Free Coin Counting In Time For The Holidays
Coinstar, Inc. and Overstock.com, Inc. announced Overstock.com as the latest addition to the Coinstar Coin to Card program. Consumers pay no coin-counting fee when converting their loose change to a variety of nationally-branded gift cards and eCertificates at Coinstar Centers across the United States. The Overstock.com eCertificate is available on approximately 10,000 Coinstar Centers across the U.S.
Overstock.com, Inc. Announces Intent To Restate Previous Financial Statements
Overstock.com, Inc. announced that on October 20, 2008, the Board of Directors of the Company concluded, based on the recommendation of management, that the Company's consolidated financial statements contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and the consolidated interim financial statements contained in the Company's Quarterly Reports on Form 10-Q for the periods ended June 30, 2008 and March 31, 2008, each as filed with the Securities and Exchange Commission, should be restated to correct errors related to the accounting of customer refunds and credits. Accordingly such reports, as well as the Company's consolidated financial statements contained in the Company's Annual Reports on Form 10-K for the fiscal years ended December 31, 2006, 2005, 2004 and 2003, should no longer be relied upon. The Company intends to file an amended Annual Report on Form 10K/A for the fiscal year ended December 31, 2007 and amended Quarterly Reports on Form 10Q/A for the periods ended June 30, 2008 and March 31, 2008 by November 10, 2008.
Overstock.com, Inc. Announces Settlement Of Claims Against Gradient Analytics And Its Principals
Overstock.com, Inc. announced it has settled all claims against Gradient Analytics and its principals and officers named as defendants in Overstock's defamation case filed in Marin County, California.
