Court Refuses to Toss Suit Filed by Overstock.Com

Deseret News (Salt Lake City) › May 31, 2007

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Summary

A California appeals court refused to throw out a suit accusing Gradient Analytics Inc., a research firm, and Rocker Partners LLC, a hedge fund, of driving down the price of Overstock.com Inc. shares.

Overstock.com, a Salt Lake-based Internet seller of discounted brand-name goods, charged Gradient issued false and misleading reports about Overstock, using information from Rocker to help the hedge fund profit on trades. Arizona-based Gradient, which does work for hedge and mutual funds, argued that its research reports criticizing Overstock were protected free speech.

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Court Refuses to Toss Suit Filed by Overstock.Com

A California state appeals court in San Francisco Wednesday rejected Gradient's claims, upholdin...

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