According to the Complaint, Overstock.com is as an online retailer in the U.S. and internationally, operating through Retail and tZERO segments. Through its on-line Retail division, the Company offers furniture, home décor and other related products. Recently, the Company has also shifted its focus to include the development and commercialization of financial applications of blockchain technologies, through tZERO.

The Complaint alleges that during the Class Period, Defendants materially misrepresented and failed to disclose the conditions that were adversely affecting the Company. The Complaint further alleges that throughout the Class Period, it was not true that the Company’s quarterly reports filed with the SEC were prepared in accordance with GAAP ad SEC rules.

On January 6, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on March 13. Defendants filed a Motion to Dismiss the consolidated Complaint on May 12. On September 28, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on October 26.

On January 6, 2021, the Court issued an Order vacating the Judgment of September 28, 2020 and granted Plaintiff leave to amend the Complaint. On January 11, Lead Plaintiff amended the Complaint. Defendants filed a Motion to Dismiss the amended Complaint on February 25. On September 20, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.

Lead Plaintiff filed a Notice appealing the Court's Dismissal Order on October 18, 2021. On October 15, 2024, the Court of Appeals affirmed the District Court's Dismissal Order.