NEW ORLEANS, Nov. 25, 2019 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until November 26, 2019 to file lead plaintiff applications in securities class action lawsuits against Overstock.com, Inc. OSTK, if they purchased the Company's securities between May 9, 2019, and November 11, 2019, inclusive (the "Class Period"). These actions are pending in the United States District Court for the District of Utah.
What You May Do
If you purchased securities of Overstock.com and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ostk/ to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 26, 2019.
About the Lawsuit
On September 23, 2019, the Company belatedly disclosed the sudden and unexpected departure of CFO Iverson the week prior, and that the Company would lower guidance to break even EBITDA for the year, eliminating the projected $17.5 million that Overstock had recently provided and which was critical to support the launch of its tZERO service. On this news, the price of Overstock.com's shares plummeted over 26%.
Then, on November 12, 2019, Overstock revealed disappointing news including a net loss of $30.9 million for 3Q2019 and the receipt of a subpoena from the SEC related to its controversial "digital dividend" announced previously. This news caused the price of the Company's shares to further decline.
The first case, filed by KSF, is Ha v. Overstock.com Inc., et al, 2:19-cv-00709.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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