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Overstock: SEC completes probe, plans no action

By Associated Press
June 6, 2008 | Comments (0)

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Online retailer Overstock.com Inc. said Friday it was told by the Securities & Exchange Commission's Salt Lake District Office that it has completed its investigation of the company and does not plan to recommend any enforcement action.

The company disclosed in May 2006 it received a subpoena from the SEC regarding its complaint against Gradient Analytics Inc., a securities research firm.

Overstock's shares fell $1.56, or 5.9 percent, to $24.91 in late morning trading. In the past 52 weeks, the stock has traded between $8.61 and $39.39.

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