Overstock.com is an embattled victim under attack by its rivals and a cabal of journalists and shortsellers working to destroy its good name.
Which is why the SEC subpoenaed the online discount company today for documents about its finances, communications and policies, including its complaint against Gradient Analytics.
Overstock filed suit in August against Gradient Analytics and a hedge fund manager, David A. Rocker, for libel and unfair business practices after they publishied negative reports on Overstock’s future.
CEO Patrick Byrne (pictured) is his own kind of discount crazy. He’s previously, “admitted to making up stories about being gay and a coke-head in the hopes of uncovering a mysterious group short-sellers led by a “Sith Lord.” These individuals allegedly engineered an intricate conspiracy to cripple Overstock. Part of the conspiracy included tapping Byrne’s phone calls and apparently some kind of spy ring.”