Overstock.com: The circus continues
Sam Antar has often referred to Overstock.com and CEO Patrick Byrne as the gifts that keep on giving. And he sure is right! There is never a dull moment when it comes to wacky conspiracy theories and accounting woes that never end.
Last week, Overstock (NASDAQ:OSTK) announced that it wouldn’t be filing its 10-Q for the [...]
Conservatism is no excuse for false financial statements, Overstock.com
I’ve written extensively in the past about the train wreck that is Overstock.com (NASDAQ:OSTK) and its nutty CEO, Patrick Byrne. Just when I think there couldn’t possibly be more to write about the horrible company and Byrne’s crazy antics, I’m proven wrong.
For those that have been following Overstock.com for the past few years, it came [...]
More financial statement fraud at Overstock.com
White collar crime fighter and reformed felon Sam Antar has done it again. He has exposed the most recent financial statement fraud being perpetrated by Overstock.com (NASDAQ:OSTK) and wacky CEO Patrick Byrne.
Of course, this doesn’t come as any surprise to anyone who has been following the company. Overstock cannot turn a profit, and when management [...]
More accounting mistreatment by Overstock.com (NASDAQ:OSTK) and CEO Patrick Byrne
Last week, Sam Antar exposed yet another set of accounting manipulations by Overstock.com (NASDAQ:OSTK) and CEO Patrick Byrne. Those who have carefully followed the Overstock saga are no doubt unsurprised at company’s use of a little accouting “presto chango” to make the fourth quarter of 2008 look better.
Had the company reported its financials properly for [...]
Wondering why frauds at public companies aren’t being pursued by the Feds?
Consumers are often left wondering why the Securities and Exchange Commission doesn’t heavily pursue allegations of fraud against public companies like Overstock.com (NASDAQ:OSTK), Usana Health Sciences (NASDAQ:USNA), Herbalife (NYSE:HLF), and the like. I’ve always said the answer is simple: There are not enough resources devoted to investigating and prosecuting fraud in public companies. Executives are [...]
The Overstock.com train wreck continues
For almost two years, Sam Antar (convicted felon and former CFO of Crazy Eddie) has been writing about Overstock.com (NASDAQ:OSTK) and his questions about their financial reporting and disclosures. I became interested in the company’s financial statements and SEC filings a few months later and began blogging about Overstock and nutty CEO Patrick Byrne as [...]
Latest Overstock.com Lie: 2007 first quarter numbers were GAAP
Yesterday Sam Antar printed a very interesting piece on his blog that sharply criticized the 2008 first quarter earnings release of Overstock.com (NASDAQ:OSTK). I picked up the most damaging part of it, which related to Overstock claiming a 27% increase in revenue over 2007. The problem was that 2008 was calculated in a different way [...]
A bit of irony from Patrick Byrne, CEO of Overstock.com
Recently a countersuit was filed by Gradient Analytics against Overstock.com (NASDAQ:OSTK) and Patrick Byrne, claiming that the company and Byrne engaged in a smear campaign after negative reports on Overstock were issued by Gradient. The suit includes allegations that Overstock and Byrne committed acts of defamation, tortuous interference with prospective business relations, and unfair business [...]
