Casavant Mining Kimberlite International (CMKM) Message Board

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Gold/Mining/Energy : Casavant Mining Kimberlite International (CMKM)

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From: StockDung	5/9/2006 6:48:56 PM
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Overstock.com Gets SEC Subpoena Tuesday May 9, 6:28 pm ET Overstock.com Gets SEC Subpoena, Company Says It Will Respond to Subpoena "In Due Course" SALT LAKE CITY (AP) -- Online retailer Overstock.com Inc. said Tuesday it has received a subpoena from the Securities and Exchange Commission, which it is now reviewing and will respond to "in due course." The subpoena seeks information regarding the company's complaint against Gradient Analytics Inc., a securities research firm which is also the subject of a SEC subpoena. Overstock.com has alleged that the research firm and short sellers conspired to drive down the company's share price. In addition, the subpoena seeks from Overstock.com documents relating to its accounting policies, financial estimates and communications relating to analysts, among other items. Patrick Byrne, Overstock.com chairman and CEO, said in a prepared statement, "I may be the first CEO in history to celebrate receiving an SEC subpoena. Some of the requests suggest the whispering of the blackguards, but I remain unconcerned about their hokum." In after-hours trading, shares of Overstock.com fell $2.16 to $23.

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