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Non-Tech : OSTK - For real or not?

OSTK 6.460

+12.0%

Dec 16 3:59 PM EST

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From: Sr K	3/28/2013 5:10:45 PM
	of 18

2:02PM Overstock.com eyeing Supreme Court Appeal of adverse NY internet tax decision ( OSTK) 12.31 -0.13 : Co is considering a U.S. Supreme Court appeal of the adverse ruling handed down today by the New York Court of Appeals in its case contesting the constitutionality of New York's affiliate tax laws. "We are disappointed in today's ruling, but confident of our position that the New York law is unconstitutional on its face and violates due process," stated Jonathan Johnson, Overstock.com's acting chief executive officer. "Given that courts in other states have upheld U.S. Supreme Court precedent, and struck down similar laws, the matter appears ripe for resolution by the U.S. Supreme Court." The company states that, while unfortunate, today's decision will have no impact on the company's operations. "We will examine our options for appeal of today's decision while we continue to work with stakeholders for a fair national solution," Johnson said.

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