According to the law firm press release, Overstock is an online retailer and purported advancer of blockchain technology. On December 18, 2017, Overstock announced that its Medici Ventures (“Medici”) business and tZERO trading system was engaging in a $250 million coin offering.

The complaint alleges that Defendants violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission (“SEC”). Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Overstock’s coin offering was highly problematic and potentially illegal; and (2) the Company’s Medici business was hemorrhaging money.

On June 20, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel.

On August 7, this case was voluntarily dismissed by the Lead Plaintiff.