1/11/2010 - Overstock.com, Inc., et al. v. Gradient Analytics, Inc., et al.
Overstock.com sued our clients Copper River Partners and various entities, claiming that they worked in concert to harm Overstock.com and enrich themselves, including by depressing the company’s stock price through issuance of allegedly false analyst reports and selling the stock short. Compass Lexecon expert Daniel Fischel with assistance from Mike Keable, Vince Warther, Cliff Ang, and others in the Chicago office, prepared a detailed analysis demonstrating that other factors and not the short sellers caused Overstock.com’s share price decline. The case settled on very favorable terms for a nominal amount. We worked with Fred Norton of Boies, Schiller & Flexner LLP.