Overstock Reminds Investors, Broker-Dealers of Trading Requirements of Series A-1 Preferred Shares
“It has come to the company’s attention that shares of Series A-1 Preferred Stock are being sold on platforms other than the alternative trading system (ATS), operated by tZERO ATS, LLC,” said Overstock Chief Executive Officer Jonathan Johnson. “These transfers are in violation of the transfer restrictions imposed on the Series A-1 Preferred Stock by the Certificate of Designation. Overstock is considering all options, including legal action, to stop sales of shares of Series A-1 Preferred Stock in violation of the transfer restrictions.”
Comment: The naked short sellers are boxed in — but they are trying hard to dupe naive investors and inattentive pension fund managers into accepting alternatives that are counterfeit — compounding their previous fraud with new fraud. There are probably 30 million counterfeit shares out there, if not more. If the SEC were honest, which it is not, it would be all over this as a pilot project to rapidly nail every naked short seller of Overstock now active.
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