Grant Thornton to SEC: Overstock.com Is Lying

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Patrick Byrne of Overstock.comUPDATE: Overstock.com just issued a press release in which Patrick Byrne calls Grant Thornton a bunch of liars. Add them to his list of “miscreants.”

No longer can Patrick Byrne, wacky CEO of Overstock.com (NASDAQ:OSTK) claim that those pointing out his lies and materially misleading financial statements are just “miscreants,” operatives of an imaginary “Sith Lord,” or [insert any of a number of Jewish slurs that Byrne is prone to use].  Now national auditing firm Grant Thornton is calling Patrick Byrne and his clowns liars. He’s collecting quite a slew of admirers.

Yesterday, Overstock filed an 8-K with the Securities and Exchange Commission regarding their firing of Grant Thornton. Here’s what Overstock.com has to say about the accounting issue that led to the firing, and I have placed in bold the most important part: Continue reading