SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: rrm_bcnu3/8/2006 2:48:47 AM
  Read Replies (1) of 5034
 
Overstock.com suit can proceed
Calif. judge denies defendants' anti-SLAPP motion
By Ruth Mantell, MarketWatch
Last Update: 12:50 AM ET Mar 8, 2006

SAN FRANCISCO (MarketWatch) -- A California judge has allowed Overstock.com Inc. to proceed with its suit against Gradient Analytics Inc. and Rocker Partners LP, Overstock said Tuesday evening.

Superior Court Judge Vernon Smith in Marin County, a San Francisco suburb, denied the defendants' motions to dismiss the suit under the anti-strategic lawsuits against public participation (SLAPP) statute, Overstock said.

Overstock.com alleges research firm Gradient Analytics and hedge fund Rocker Partners "colluded to drive down Overstock.com's stock price for their own profit." The original suit was filed in August 2005.

Smith ruled that the anti-SLAPP statute addresses commercial speech, and Rocker's "alleged misconduct in conspiring with Gradient...is not, on its face, promotional in nature," according to Overstock.com.

In a statement Tuesday, Gradient said the company plans to immediately appeal the ruling. That action could delay proceedings in the trial court until the appellate process has been exhausted.

Scottsdale, Ariz.-based Gradient said First Amendment case law protects its rights. "If this decision stands, independent financial analysts will become easy prey for the companies they study - and everyone would lose," Gradient said.

The Securities and Exchange Commission is investigating allegations of manipulation regarding Overstock's shares.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News