The online retailer Overstock.com is another established company that late last year announced plans for a cryptocurrency offering. Overstock’s cryptocurrency plans were derailed earlier this month after its planned offering drew SEC scrutiny. Now, the company has been hit with a securities class action lawsuit relating to its miscarried cryptocurrency initiative, as discussed below. Though much of what happened to Overstock is company- specific, the sequence of events and the overall circumstances may have some important lessons as the cryptocurrency phenomenon evolves.
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