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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerWell, compelling evidence has now emerged suggesting that Mr. Lindsey was not honest about the time of his resignation. In an 8-K filed with the SEC on January 2, Overstock reported that, "On December 31, 2007, Mr. Jason C. Lindsey resigned, effective immediately from his positions as President, Chief Operating Officer (principal operating officer) and a member of the Board of Directors of Overstock.com, Inc."
But in a declaration dated January 12, part of Overstock's lawsuit against Gradient Analytics and Rocker Partners, Lindsey swore under penalty of perjury that he "served as Overstock's President from April 2006 until January 2nd, 2008."
In other words we have two documents that are, by law, required to be true but contradict each other. That's a problem. I'm not quite sure what to make of this. I have no idea what Overstock/Lindsey's motive is for not being truthful about the time of his resignation in at least one of these documents, but you have to think there was a reason: Would you lie under oath just for giggles?
On his blog, Gary Weiss sums it up this way: "I really don't know, and given the sheer weight of the sliminess of this company, it's hard to figure out whether one lie is more important than another lie, or why liars lie. Perhaps just for the sake of lying? One thing I do know: those SEC investigators must be having a field day."
Caveat emptor or, in the case of Overstock.com, cave canem: Beware the dog.
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