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Overstock Sued by Shareholder Over Former-CEO’s $90 Million Exit

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Overstock Sued by Shareholder Over Former-CEO’s $90 Million ExitOverstock Sued by Shareholder Over Former-CEO’s $90 Million Exit

Online retailer Overstock is facing a lawsuit from shareholder John Murphy over former CEO Patrick Byrne’s abrupt departure from the company and off-loading of $90 million worth of shares.

According to Law360 on March 11, Murphy is seeking records under Section 220 of Delaware General Corporation Law to examine potential violations of duty on the part of Overstock’s directors in connection with Byrne’s actions. The suit states:

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