Convicted felon, former CPA and CFO of Crazy Eddie, Sam Antar’s new blog about Overstock.com and its CEO Patrick Byrne is a detailed breakdown of the company’s alleged “consistent pattern of false and misleading financial disclosures and lies by management about the company’s financial performance and compliance with securities laws.”
Antar writes that Overstock.com is a repeat offender of “financial reporting irregularities and lies by management to investors. Since, its inception in 1999, Overstock.com has yet to produce a financial report that has not at least initially violated GAAP and SEC disclosure rules.”
As Antar claims that Overstock.com is trying to avoid tripping over their own lies, I have to wonder what the investors are thinking…or believing.
