Case Essential To Protecting Analysts From Issuer Retaliation
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Gradient Analytics, Inc. said today that a California state court has ruled that discovery may proceed in the Overstock.com vs. Gradient, et al. litigation. Discovery had been stayed for several months while motions to dismiss by several parties were pending. The motions to dismiss (which did not involve Gradient) were filed by four current and former Overstock board members who had been sued in a cross-complaint filed by Rocker Partners (now known as Copper River Partners).
In response to the court’s decision allowing discovery to go forward, Gradient Analytics President and CEO Brad Forst today noted that: Continue reading
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 practices.
Gradient President and CEO Brad Forst said: Continue reading
Reuters published an interesting article about lawsuits against short sellers… like when Overstock sued Gradient Analytics and Rocker Partners.
“Short sellers” profit when a company’s stock price goes down. Negative information about companies tends to send the stock price down, so you can see the potential correlation here… short sellers benefit when negative information is made public.
David Rocker, retired general partner of Rocker Partners, discussed his lawsuit experience with Overstock.com. He was accused of purposely trying to push the stock price down. Continue reading