Friday, October 24, 2008

Message to Overstock.com Management about Q3 Earnings Call

To Patrick Byrne, Jonathan E. Johnson III, David Chidester, and Jason C. Lindsey:

I listened in to Overstock.com's (NASDAQ: OSTK) Q3 2008 earnings call.

There is a lesson that I learned as the criminal CFO of Crazy Eddie:

"The cover up is worse than the crime."

It is inappropriate for you to lie to, deceive, and mislead investors about your financial reporting. I call it criminal.

You can run but you cannot hide your charades from this convicted felon.

Stay tuned for my next blog post for further details.

Kindest regards,

Sam E. Antar (former Crazy Eddie CFO and a convicted felon)

Update:

During the Q3 2008 earnings call, Overstock.com's management attempted to address issues raised in my previous blog post with new false and misleading statements. A detailed response to Overstock.com is posted here.

Disclosure: Not long or short Overstock.com.

No comments:

Advertisement - Forbes Network

Advertisement - Google AdSense

Advertisement - Google AdSense