Overstock's Patrick Byrne, hypocrite

Posted Apr 16th 2008 12:37PM by Zac Bissonnette
Filed under: Scandals

In a way, you have to admire Overstock.com (NASDAQ: OSTK) CEO Patrick Byrne. At the very least, he's a guy who's never let his lack of accomplishment interfere with his ego.

In a rambling press release issued last night, Byrne commented on Gradient Analytics' counterclaim filed against his company. I swear I'm not making this up:

"This lawsuit is an attempt by Gradient to distract attention from their failing business model."

The CEO of a company that has a track record of missing its own projections -- and has lost over $240 million to date selling knick-knacks over the internet -- has filed a lawsuit against a research firm that correctly forecast the company's problems and is accusing that firm of trying to "distract attention from their failing business model."

That's like Donald Trump telling someone they need a new haircut.

Tags: Byrne, inthenews, OSTK, Overstock

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Reader Comments (Page 1 of 1)

4-16-2008 @ 10:09PM

panerai said...

come on why do you need to say something about this ceo, no one else to talk about. this man is great in every aspect of his jihad against people like you....you stole our money us middle class american by manipulating the stock of infinte companies. The middle class is shrinking everyday with guys on wall street having more and more money, buying art work that is going up in value even more than gold and not knowing where to hide their billions that they stole from hard working people in this country. shame on you.....