Overstock Wants Lawsuit Nixed Ahead of Security Token Distribution

[SRShanuka2020]

Overstock Wants Lawsuit Nixed Ahead of Security Token Distribution

Online retailer and early Bitcoin adopter Overstock has filed for the dismissal of a lawsuit that accuses the company of misrepresenting the nature of its ‘digital dividend’ token.

The dividend is a security token airdrop that will see ‘OSTKO’ tokens distributed to company shareholders on a basis of one token to every ten Overstock shares.

News of the dividend caused a share price surge and the lead plaintiff accuses Overstock of deliberately withholding information regarding the distribution, and of deceiving the market to intentionally punish short sellers.

Overstock’s digital dividend distribution is set to take place on May 19.

Visit For More info: Here