Claims In Overstock Market Manipulation Suit Lack Necessary Elements, Panel Told

Mealey's (April 1, 2022, 2:53 PM EDT) -- DENVER — A 10th Circuit U.S. Court of Appeals panel should affirm a federal district court’s dismissal of a shareholder’s claims against online retailer Overstock.com Inc. and certain of its current and former senior executives alleging that the defendants artificially inflated earnings guidance for the company’s struggling retail division as part of a market manipulation scheme because the shareholder failed to sufficiently plead any material misrepresentation or scienter in making its federal securities law claims, Overstock and others argue in a March 30 appellee brief....