An investigation on behalf of investors of Overstock.com Inc (NASDAQ:OSTK) shares over potential securities laws violations by Overstock.com Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Overstock.com Inc (NASDAQ:OSTK) concerning whether a series of statements by Overstock.com Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Midvale, UT based Overstock.com, Inc. is an online retailer and incubator of blockchain technology. Overstock.com Inc reported that its annual Total Revenue rose from voer $1.65 billion in 2015 to over $1.79 billion in 2016 and that its Net Income increased from $2.45 million in 2015 to $12.52 million in 2016.

Shares of Overstock.com Inc (NASDAQ:OSTK) grew from $10.57 per share in early 2016 to as high as $86.90 per share in January 2018.

On March 1, 2018, Overstock.com Inc announced that the Securities and Exchange Commission (SEC) is investigating the Companys blockchain platform, tZERO.

Shares of Overstock.com Inc (NASDAQ:OSTK) declined on March 1, 2018 to $54.25 per share.