Law360 (May 13, 2020, 9:50 PM EDT) — Overstock.com has urged a Utah federal judge to toss a proposed class action accusing the e-commerce site of lying about its financial prospects and scheming to issue digital token dividends intended to punish short sellers, arguing that the shareholders fail to state a claim.
In separate dismissal bids Tuesday, the online home goods retailer and its current and former top brass contended that the company’s alleged misstatements are not actionable because they are forward-looking statements protected the safe harbor provision of the Private Securities Litigation Reform Act, and that the investors have not shown that the company deceived the public or manipulated…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!